“The Prime Minister’s timid view undermines the work of New Zealand governments over decades to support a trading system that offers security for exporters, importers and consumers,” Labour trade spokesperson Damien O’Connor said.

“The Government should not give up on getting a better deal for our hard-working exporters, or the rules-based system that New Zealand relies on.

“It’s not just disappointing that the Government hasn’t been able to negotiate lower tariffs given the very low level of tariffs we impose on goods and services from the US, it could mean greater costs for all of New Zealanders.

“Not only will there be a $900 million hit on our exports, we also have to consider how the ripple effect of tariffs on our trading partners such as China will affect prices on goods coming to New Zealand,” Damien O’Connor said.