Treasury's forecasts may get trumped by tariffs

US President-elect Donald Trump's talk of tariffs casts a shadow over NZ economic prospects. (Image: Getty)

Wed, 18 Dec 2024

A bleak economic picture painted by the Treasury may be even worse given the global backdrop. On Tuesday, Treasury’s Half Year Economic and Fiscal Update (HYEFU) showed a return to a surplus had been pushed out due to weaker growth and lower tax revenue.Those forecasts, however, “have been prepared on the basis that global trade policies are unchanged”, it said. That seems highly unlikely. Tariffs loomIain Rennie, secretary to the Treasury, noted the possibility of the US imposing significant tariffs on several...

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