The New Zealand United States Council held its Annual General Meeting earlier today at the Northern Club, hosted by Chair Jonathan Mason and Executive Director Fiona Cooper, together with members of the Executive Committee.
The AGM provided an opportunity to reflect on the Council’s activities over the past year, welcome new members, and discuss the strategic priorities that continue to shape New Zealand–United States relations.
Following the formal meeting, members were joined by guest speaker Grahame Morton, Deputy Secretary, Americas and Asia Group at the Ministry of Foreign Affairs and Trade, who shared insights on the evolving Indo-Pacific landscape and the importance of strong bilateral partnerships in a dynamic global environment.
You can read the Chair’s 2025 AGM Report in full below, outlining the Council’s achievements, ongoing advocacy on trade and tariff issues, and its continued commitment to strengthening the NZ–US relationship across economic, political, and people-to-people links.
NZUS Council Chair’s Report 2025
Dear Members
I am pleased to have this opportunity to report on the Council’s activities since last November. It has been a very busy year for the Council.
Over the past ten months we have been pleased to welcome several new members to the Council: ASB, CaloCurb, Indevin, KEA Aerospace, Leaft and, most recently, Xero. We greatly appreciate the support of all our members for the Council work programme.
The bilateral relationship
Since President Trump’s election last November, the New Zealand Government has focussed on building relationships with the new Administration, and even before that with some key players. Prime Minister Christopher Luxon had a cordial phone call with President-Elect Trump after his election win. In March 2025 the Minister of Foreign Affairs Rt Hon Winston Peters visited US Secretary of State Marco Rubio and together they reaffirmed the importance of the bilateral relationship. Trade Minister Hon Todd McClay visited US Trade Representative Ambassador Jamieson Greer in August to discuss tariffs and also met with him at several international meetings. Several other Ministers also visited the USA this year on a range of matters including Hon Judith Collins, Hon Chris Bishop, Hon Erica Stanford, Hon Tama Potaka and Hon Nicola Willis.
These high level government connections and the Council’s own visit to the USA in July demonstrated that, as has long been the case, New Zealand is well liked in the USA and seen as a trusted friend and partner. However, when it comes to tariffs, we have learned sentiment has limited influence in the Trump Administration’s approach.
Tariffs
Tariffs have been a difficult element in the bilateral relationship this year. This was foreshadowed in President Trump’s America First Trade Policy announcement on 20th January. It was reinforced in February by the announcement that a 25% tariff on steel and aluminium imports would continue without any country or product exceptions (the rate was later increased to 50%). Other specific tariffs have been introduced such as for copper (50%) and automobiles and auto parts (25%).
On “Liberation Day” on 2nd April, the US announced a range of “reciprocal” tariffs on nearly all trading partners. Along with many other countries, New Zealand was hit with a new baseline tariff of 10% on top of existing tariffs for all goods exported to the USA. Several other countries were hit with much higher tariff rates. Regrettably, the tariff on NZ goods was increased to 15% in early August, based on the Administration’s narrow focus on New Zealand’s relatively modest goods trade surplus. At this point there is no mechanism to review New Zealand’s 15% tariff, but the Administration has agreed to further ministerial-level discussions in the coming months.
Other trade policy risks are also of concern. For example the Administration is working on several Section 232 trade investigations that could spell trouble for certain New Zealand exports1. We expect US trade policy will be an ongoing irritant in the bilateral relationship, even if the “reciprocal” tariffs are found to be unlawful by the US Supreme Court in due course.
Bilateral Trade
Despite tariffs, New Zealand goods and services exports to the USA were strong in the year to June 2025. During that period, New Zealand exported NZ$17.36 billion of goods and services to the USA ($1 billion more than in the same period in 2024) and imported $12.94 billion for a total two way trade value of $30.3 billion.
New Zealand goods exports to the US were worth $9.32 billion and goods imports from the US were worth $8.53 billion, representing a goods trade balance of NZ$798.23 million in New Zealand’s favour (just under US$487 million2). Our services exports to the US were worth $8.03 billion, so this sector is fast catching up with the value of our goods exports.
The US remains our 2nd most valuable export market and third largest trading partner in terms of imports and two-way trade. It will be interesting to see whether our goods trade numbers stay strong in the coming year. We are hopeful because of continuing US demand for New Zealand products, and because New Zealand exporters are tenacious, innovative and experienced in navigating trade barriers. However we do not underestimate the scale of the challenge and will continue to advocate on behalf of New Zealand export interests.
NZUS Council Programme 2025
NZUS Council Media Fellowship
The 2025 NZUS Council Media Fellowship was awarded to New Zealand journalist Madison Malone, well known for her Markets with Madison video series (recently rebranded as Business with Madison)3. With the Council’s support, Madison spent three weeks in June meeting with innovative New Zealand companies in the USA that have achieved success in that highly competitive market. They included Halter, Tracksuit, Crimson Consulting, Rocket Lab and Zuru as well as New Zealanders with a track record of US business success such as Sean Gourley. Each of these inspirational interviews featured in an episode of Markets with Madison available for public viewing on The Herald website and on You Tube, as well as on our website and social media. We thank Madison for the energy and passion she brought to producing this series on our behalf.
NZUS Council Mike Moore Congressional Internship programme
In late 2024 in conjunction with the law schools at the University of Canterbury and the University of Auckland, and with the ongoing support of Air New Zealand, we sent the tenth cohort of four outstanding New Zealand university students to Washington DC to work as congressional interns for nine weeks. Benjamin Christy, Isellah Gordon, Jessica Wratt and Silas Zhang reported back to the Council on their experiences in February this year4. Their feedback reinforced the value of the internships, both to them personally and to the bilateral relationship by strengthening our relationships in Congress.
We are delighted that the Political Science C International Relations School at Victoria University of Wellington has rejoined our internship programme this year, alongside Canterbury University Law School as well as the Law and Politics Schools at Auckland University. As a result, for the first time we will be sending five students to intern in Washington DC in mid-November 2025. Our congratulations to Ruby Gane, Lauren Matthews, Sophie Newton, Ben Shea and Matteo Zhang. You will be able to check out their updates by following the Council on Linked In, Facebook and our website.
Other Council Events and Activities
Over the last ten months we have hosted numerous interesting events with US contacts to build our understanding of US politics. We delivered four speeches about the bilateral relationship and undertook numerous media interviews on a range of subjects.
In December 2024 we hosted an online discussion with Wendy Cutler, Vice President at the Asia Society Policy Institute in Washington DC and her team about the prospects for US-Indo Pacific relations under President Trump 2.0. We met with Wendy in person in Washington DC in July.
In February this year, our Executive Director addressed the Nelson chapter of the New Zealand Institute of International Affairs about the outlook for NZ-US bilateral relationship in the wake of President Trump’s re-election.5
In May we hosted a dinner for Council members with a senior delegation of US congressional staffers who were on a familiarisation tour of New Zealand as guests of our government. We also held an online discussion with US pollster Mike Noble from Noble Predictive Insights in Arizona. He briefed us on the significant political realignment that has occurred in the US politics in recent decades and the outlook over the next few years. His slide deck is available on request.
In June, the Council hosted a roundtable meeting for our members with Foreign Minister Rt Hon Winston Peters to discuss the US bilateral relationship and to brief him on the outlook for New Zealand trade with the US6. The Minister discussed the importance of carefully calibrating public messaging about the tariffs while seeing how other trading partners fared in negotiations with the USA. Our thanks to Air New Zealand for providing the venue for this event.
In June we also hosted a roundtable discussion on US relations with Australia and New Zealand with Dr Charles Edelman from the US Center for Strategic and International Studies7.
In July, in collaboration with ASB, we hosted an informative online session in which ASB economist Nick Tuffley discussed US economic outlook and the implications for New Zealand8.
Also in July, the Council took part in the annual American Chamber of Commerce Asia-Pacific Door Knock visit to Washington DC. I attended along with our Executive Director Fiona Cooper and Council members Simon Bridges and Francis Duignan and longtime Council friend Mike Hearn. The visit provided valuable insights into the Administration’s trade policy process and highlighted that many US trading partners, including other close US friends and allies, faced higher tariffs than New Zealand. We also undertook a range of bilateral meetings.
In August the Executive Director gave two speeches on the bilateral relationship, one to the Hawkes Bay chapter of the NZ Institute of International Affairs9, and another to a large group of ANZCO red meat suppliers in Havelock North. As Council Chair, I too gave a speech in August on NZ-US relations to the NZ Institute of Primary Industries Management annual conference.
This year we have monitored the New Zealand government’s response to the NZIER research paper that we supported last year about the detrimental impacts of the Foreign Investment Fund (FIF) rules on returning NZ expatriates and other talented economic migrants. It is heartening that the Government has introduced legislation that goes a long way to addressing our concerns10.
NZUS Council Leadership Dialogue visit to the USA
As foreshadowed in my AGM report last year, in late October I will be leading the NZUS Council Leadership Dialogue delegation to the USA. We will visit Los Angeles, Washington DC and Chicago. We will be seeking to gain a deeper understanding of the origins and impacts of the current realignment of US foreign and trade policies, as well as apprising US contacts about the impact of US tariffs on New Zealand. We hope to meet with US government agencies as well as key congressional contacts and with a range of US think tanks and business organisations. We will seek to build support for and mutual understanding of the value of the NZ-US bilateral relationship and to connect with US contacts with potential shared interests. Looking at it from a US perspective, we will seek to demonstrate how, through trade and investment and other cooperation, New Zealand contributes to making the US safer, stronger and more prosperous. We look forward to sharing the outcomes of our visit with you in due course.
The Outlook for NZ-US Relations
The NZ-US relationship is strong and enduring and will continue to be so irrespective of changing US administrations. Aside from current trade issues, the US remains an important partner for New Zealand in lots of ways. We have a strong record of collaboration in an array of areas such as foreign policy, defence and security, policing, immigration, Customs and increasingly in science, innovation, technology and the space sector.
Friends do not always agree, especially on the unilateral imposition of tariffs. We had trade disagreements during President Trump’s first term in office. We got through it and the bilateral relationship continued to thrive.
In spite of the ongoing uncertainty about US trade policy uncertainty and the risks that creates for New Zealand exporters, the large and wealthy US market is one worth striving for. We would encourage New Zealand exporters to do what they can to keep their footing in the US market, spread their risks where possible and see how it all plays out. In the meantime, the NZUS Council will continue to do what we can to defend and promote New Zealand’s interests in this new world of America First.
It is going to be another exciting year for the Council. Please do not hesitate to approach me or the Executive Director if you would like to find out more about next year’s programme.
I would like to take this opportunity to thank all of our members, friends and connections for your support.
Jonathan Mason September 2025
1 . Products currently at risk of Section 232 tariffs or other actions are timber and lumber, semiconductors, pharmaceuticals and ingredients, trucks, critical processed minerals, commercial aircraft and jet engines, polysilicon and derivatives, drones, and wind turbines and related parts.
2 At an exchange rate of 1NZD = 0.61 USD as at 24 September 2025.
3 https://nzuscouncil.org/madison-malone-named-2025-nzus-council-media-fellow/
5 https://nzuscouncil.org/nzus-council-highlights-strength-and-challenges-in-nz-us-relationship/
6 https://nzuscouncil.org/nzus-council-hosts-rt-hon-winston-peters/
7 https://nzuscouncil.org/nzus-council-in-discussion-with-dr-charles-edel/
8 https://nzuscouncil.org/making-trade-great-again-us-market-online-briefing-with-nick-tuffley/
9 https://nzuscouncil.org/new-zealand-usa-relations-and-the-impact-of-tariffs/
10 https://nzuscouncil.org/tax-change-for-incoming-talent-to-boost-growth/