The latest Weekly Global Economic Report from the Ministry of Foreign Affairs and Trade (MFAT), highlights several developments in the United States that are relevant to New Zealand exporters and the wider bilateral trade relationship.
For New Zealand’s primary sector, MFAT provides an update on the US beef market; a temporary additional 300,000-tonne quota for lean beef trimmings used in ground beef took effect on 1 September for 90 days. The new quota appears to be aimed at countries without existing country-specific quota access, meaning New Zealand may not be eligible. However, NZ has its own 213,000-tonne country-specific quota, which remains unfilled this year, and MFAT considers that New Zealand beef exports are therefore unlikely to be significantly affected.
Trade tensions between the US and Canada have escalated following the breakdown of recent negotiations. US tariffs of up to 50% have come into force on CA$28 billion of Canadian imports, with Canada announcing reciprocal measures from 8 September. The US has also announced that tariffs on Canadian automobiles, automotive parts and steel will increase to 50% from 1 January 2027.
The developments reinforce the importance of maintaining predictable and stable trading conditions and keeping a close watch on changes in US trade policy, particularly for New Zealand businesses operating in the US market.
Read the full MFAT Weekly Global Economic Report – 1 September 2026.