Foreign Minister Winston Peters criticized Prime Minister Christopher Luxon for not consulting with him before making phone calls to world leaders regarding the US trade war, advising politicians to “tone down” their actions. Luxon proposed closer collaboration between the European Commission and CPTPP countries to uphold a rules-based trade order and bring stability amidst escalating tariffs between the US and China, with the US increasing tariffs to 145% following a 90-day pause on retaliatory tariffs for other nations. Peters hopes Luxon will heed his advice and include him in future discussions.
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On the rise: Inflation up 2.5% in first quarter
The Consumers Price Index inflation rate increased 2.5% in the 12 months to March 2025, according to Stats NZ. This rise follows a 2.2% annual increase in December 2024 and slightly exceeds economists' forecasts, with a 0.9% increase in the first quarter of 2025. The annual inflation rate remains within the Reserve Bank of New Zealand’s target band of 1 to 3% for the third consecutive quarter, a significant change from the period between June...
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