Trade deal
Free trade pact with US possible, says McClay
The United States has indicated it’s open to a free trade agreement with New Zealand “when the time is right”, Trade Minister Todd McClay says.
McClay has been in the US to meet the new US Trade Representative, Robert Lighthizer, US Commerce Secretary Wilbur Ross, and Congressman David Reichert.
Ross had indicated he is open to a trade deal and didn’t see any major issues in the way, McClay said.
“It’s clear the US will take time considering its trade strategy. They’re likely to have a considerable workload over the next couple of years with Nafta renegotiations and some big bilateral deals to do. However, I’ve welcomed their interest in an FTA as a demonstration of the good shape our trading relationship is in.” President Donald Trump has withdrawn the US from the TPP, a 12-country pact that had been the top trade priority of the Obama Administration. Trump has promised an “America first” approach to foreign policy and trade.
During his visit, McClay briefed US officials on the progress of the TPP minus the US. Japan has assumed leadership to get the other 11 countries to keep the deal going.
McClay said Lighthizer told him he wanted to work with New Zealand on international trade policy issues.
Last year New Zealand exports to the US were valued at $5.6 billion and imports were valued at $5.7b.