New Zealand expects modest impact from US tariffs, finance minister says

WELLINGTON, April 8 (Reuters) - New Zealand is expecting a modest impact from U.S. tariffs but has put in place the right settings and policies to navigate a period of uncertainties in the global financial markets, Finance Minister Nicola Willis said on Tuesday.

A global trade war touched off by Donald Trump's sweeping tariffs escalated further on Monday, as the U.S. President threatened to increase duties on China and the European Union proposed its own counter-tariffs.

Trump has imposed a unilateral 10% tariff on New Zealand, the low end of his reciprocal tariffs for all imports into the United States.