What the ODT don't get about US tariffs.

The Otago Daily Times is one of four metro dailies in New Zealand. A couple of days ago, the editorial writer took issue with the new US tariffs. I wrote to the paper as follows: "Your editorial 'Counting the cost of tariffs', makes much of the unfairness of the US position, yet skates only briefly over the trade balance. The theme being: 'It would just take the purchase of a few more Boeings' and doesn't mention any actual trade figures. According to official stats New Zealand's trade surplus with the US in 2024 was US$2 billion. At US$55 million each we'd have to buy a lot of 737s - in fact, nearly 40 of them, to balance that'".

Note: Our national carrier Air New Zealand, operates about 22 of the Airbus equivalents of the Boeing 737. The airline would have to replace that fleet twice over in one year to balance the US trade surplus.