The New Zealand government said it will provide Golden Bay Cement with up to $60 million in financial support to keep its Northland operation running. The plant is the country’s only domestic cement manufacturing facility and supplies about 60 percent of the cement used in New Zealand. Fletcher Building said that without the support, rising costs including carbon costs could have forced the plant to close and shift to an import-only model from 2030. The company said it will also invest $150m through to 2040 to support continued operations, optimisation, resilience and decarbonisation at the site.

The United States is expected to raise a blanket tariff on all New Zealand exports to 12.5% once the interim duties expire on July 24, replacing the current 10% rate. The move would be taken under Section 301 and places New Zealand in the top tariff tier because it does not have a bilateral trade deal with the US. New Zealand exporters would face higher costs, with dairy, timber and red meat among the key categories affected. The change is separate from additional tariff lists already announced for major economies such as China, the European Union and Japan.