New Zealand says China's safeguard duties on milk powder over

SYDNEY (Jan 1): New Zealand said on Monday all its dairy products are now able to enter China duty-free as safeguard duties on milk powder ended on Dec 31, marking the removal of all remaining tariffs agreed upon in the free trade deal between the two countries. New Zealand was the first developed country to sign a free trade agreement with China in 2008, with the imports of milk powder subjected to the longest phase-out. An upgraded trade deal was entered when former prime minister Jacinda Ardern met Chinese President Xi Jinping in 2022. "This is good news for our dairy sector. The removal of these remaining tariffs is expected to deliver additional annual tariff savings of approximately NZ$350 million (US$221 million or RM1.02 billion)," Trade Minister Todd McClay said in a statement. "The [free trade agreement] continues to deliver benefit to the New Zealand economy and to underpin the New Zealand-China trade relationship." China is New Zealand's largest trading partner, with ...