NZ dollar falls as US tariffs on Canadian lumber raise protectionism fears

Wed, 26 Apr 2017

By Rebecca Howard April 26 (BusinessDesk) - The New Zealand dollar fell as the imposition of new tariffs on Canadian lumber exports to the US stoked fears about what growing trade protections will have on trade-orientated nations. The kiwi fell to 69.26 US cents as at 5pm in Wellington versus 69.48 US cents as at 8am and 70.33 cents late yesterday. It was at 75.05 on a TWI basis. US Commerce Secretary Wilbur Ross announced duties averaging 20 percent on Canadian softwood lumber, a move that follows US President Donald Trump’s critici...

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