WELLINGTON, New Zealand – New Zealand estimates a Pacific trade deal would boost its economy by up to 1 percent as exporters would face reduced tariffs on goods like kiwifruit, wine and beef.
The analysis Wednesday came as details of the trade pact between 11 countries around the Pacific Rim were released. The countries, which include Japan, Canada and Australia, intend to sign the deal in March.
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President Donald Trump fulfilled a campaign promise by pulling the U.S. out of an earlier version of the deal, previously called the Trans-Pacific Partnership.
New Zealand estimates the deal would expand its economy by up to 4 billion New Zealand dollars ($2.9 billion) a year, according to the analysis released by the Ministry of Foreign Affairs and Trade.
The analysis concluded that not signing would shrink GDP.
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