New Zealand Proposes Rules-Based Trading Bloc to Counter Tariffs
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New Zealand Prime Minister Christopher Luxon is proposing the formation of a rules-based trading bloc in response to sweeping US tariffs that threaten to hurt economies reliant on global trade.
Luxon said the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a free-trade agreement between 12 nations including New Zealand, Japan, Canada and the UK, could be the basis for a wider agreement with the EU that seeks to “promote free trade as a path to prosperity.”