Analysts at ANZ Bank New Zealand Limited explained that China is reportedly planning to cut tariffs on a number of imports from most of its trading partners from as early as October.
Key Quotes:
“This is a move that should not only prop up Chinese domestic consumption (in the face of rising import prices) but could also offset some of the negative global demand impacts of the US trade war.”
“Details are lacking at present so it’s anybody’s guess how this might directly impact New Zealand exports (or how imports from the US will be treated for that matter), but even if key New Zealand exports don’t make the list, there are still indirect benefits to be had through higher-than-otherwise Chinese disposable incomes.”
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