Donald Trump launched US$50 billion of new tariffs against technology imports from China. Beijing retaliated immediately with tariffs on US$50 billion worth of US beef and poultry imports. Simon Bridges announced he wanted a bi-partisan approach on climate change, but did not commit to a carbon neutral target and said he would not accept "extreme" policies that increased household costs unnecessarily or damaged the economy.
After years of discussions, the European Union is officially launching trade deal negotiations with New Zealand. EU Trade Commissioner Cecilia Malmstrom is headed to New Zealand this week, and spoke to Sam Sachdeva ahead of her visit about what the EU will get out of the deal - as well as the shaky state of international trade.
New Zealand manufacturing sales volumes were boosted by transport equipment and machinery manufacturing in the first quarter.
New Zealand's merchandise terms of trade fell from a record high in the March quarter and broke a five-quarter streak of rises as weaker dairy prices weighed.
US Treasuries climbed while Wall Street was mixed, giving up some of its earlier declines, as Federal Reserve policy makers signalled the pace of interest rate hikes is unlikely to accelerate soon.
News that trade negotiations will begin between New Zealand and the European Union, the country's third-largest trading partner, has been well received by local business chiefs.
New Zealand’s long pursuit of a free trade deal with the European Union has moved closer to reality, with the EU’s Foreign Affairs Council approving the launch of negotiations.
A speech by Federal Reserve Chair Jerome Powell as well as the minutes from the latest US central bank meeting will form a key focus for investors trying to gauge how many more interest rate hikes might follow the one they’re expecting next month.
Wall Street rose as better-than-expected results from Macy’s lifted its shares as well as those of other retailers and underpinned optimism about consumer spending and the economic outlook.
Dairy product prices rose at the Global Dairy Trade auction, gaining for the second time in the most recent seven events amid better-than-expected gains for anhydrous milkfat and skim milk powder.