Uncertainty likely to remain following US Supreme Court tariff ruling, Trade Minister says

Minister for Trade and Investment Todd McClay says considerable uncertainty is likely to remain with the latest moves in the US on tariffs.

The US Supreme Court ruled the sweeping tariffs US President Donald Trump imposed on nearly every country were illegal.

Trump has hit back, announcing a new 10 percent levy on global imports.

McClay said New Zealand exports have been holding up well overall in the US market since the original 15 percent tariff was imposed.

While any tariff reduction was welcomed, he did not believe the 15 percent charge was warranted, given American goods coming into New Zealand faced a tariff of just 0.3 percent, he said.

"Our embassy in Washington will engage with their counterparts to get more information so we can continue to work with exporters, however uncertainty around US tariff policy is likely to remain for an extended period of time."

A trade expert said the US Supreme Court's decision to strike down Trump's tariffs was good news for exporters here.

The New Zealand International Business Forum's Felicity Roxburgh said New Zealand's wine and dairy sectors would particularly benefit from the decision, but there was more uncertainty ahead.

Roxburgh said businesses might be able to claw back tariff money they paid through their importer, but it would likely be a lengthy legal process.