The Government says an overnight announcement from the US Supreme Court could matter for exporters facing a 15 per cent tariff on New Zealand goods, but it cautions that uncertainty around US tariff policy is likely to continue for some time.

In a statement, the Government said exports into the US market have “been holding up well” since the Administration imposed the 15 per cent tariff, with signs many cost increases are being passed through rather than absorbed by New Zealand firms. Any reduction in tariffs would be welcome, it said.

New Zealand maintains the tariff is not warranted, pointing to the average tariff rate applied to US goods entering New Zealand of 0.3 per cent.

The Government did not identify which Supreme Court ruling it was referring to, what the decision changes in practical terms, or when any shift in tariff settings might occur. The New Zealand Embassy in Washington has been tasked with engaging US counterparts to obtain further detail.

The US is one of New Zealand’s largest export markets across sectors including dairy, meat, wine, forestry and manufactured goods. There is no comprehensive bilateral free trade agreement in place, so changes in US tariff policy can have an immediate effect on price and market access.

For now, officials are signalling two things at once: there may be scope for tariff relief depending on how the US interprets and implements the court’s decision, and exporters should expect policy uncertainty to linger.