International Business News – New Zealand’s foreign and trade ministers issued a joint statement saying the New Zealand government will impose a 35% tariff on all imports from Russia in light of Russia’s special military operation in Ukraine.
“The government has announced that it will impose a 35% tariff on all Russian imports, extending the export ban on products closely related to Russia’s strategic industrial sectors,” a statement posted on the New Zealand government’s official website stated.
The New Zealand government will ban the export of ICT equipment and engines, the statement said.
The statement said it was New Zealand’s “most serious economic response” to the Russian military action to date, and the decision will come into effect on April 25 after the resolution is finalized.