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I run a small manufacturing business that exports and employs staff. We are considering new equipment but worry about demand, freight costs and finding skilled workers. I am considering my vote in the 2026 New Zealand general election. What do parties propose about trade access, international relationships and risks to New Zealand exports?
For an exporting manufacturer, the important distinction is that the parties are not divided over whether New Zealand should trade internationally. The differences are more about how aggressively to pursue new market access, how to manage geopolitical risk, how much to prioritise domestic resilience, and how to balance open trade against other objectives.
The 2026 election is on 7 November 2026. General Election to be held on 7 November | National Party
What the parties are proposing
| Party | Trade & market access | International relationships / risk | What it could mean for an exporter |
|---|---|---|---|
| National | Strong expansion of FTAs, particularly in Europe, South America, Africa and Asia. Its 2026 plan identifies seven priority markets for negotiations and targets eliminating $1b of non-tariff barriers through paperless trade/digital customs. It retains the goal of doubling exports by 2034. New Zealand's Next Billion Customers | National Party | Emphasises a more dangerous, transactional international environment and greater supply-chain resilience. National proposes more “essential supplies” agreements with like-minded countries. Speech: Securing New Zealand’s future in a more volatile world | National Party | Most explicitly export-expansion oriented. Particularly relevant if you want government to prioritise opening new markets and reducing border/export friction. |
| Labour | Supports high-quality FTAs and diversification, but puts more emphasis on making existing agreements usable by SMEs, rather than simply signing more deals. It wants more higher-value exports such as agritech, environmental technology, fintech, software and advanced industries. Speech: New Zealand; an independent voice in the world | Labour stresses defending the rules-based trading system while also building domestic manufacturing and processing capacity to reduce exposure to international shocks. Speech: New Zealand; an independent voice in the world | A diversification + domestic-resilience approach. Potentially particularly relevant to a manufacturer worried about both export demand and supply-chain disruption. |
| ACT | Supports open trade and the India FTA. ACT's trade spokesperson described it as expanding exporter opportunities and reducing tariffs. ACT New Zealand | ACT places considerable emphasis on relationships with liberal democracies and collective security. It also favours lower regulatory barriers and stronger business investment incentives. Its 2025 investment policy, for example, introduced a 20% capital-asset deduction for new plant and equipment. ACT New Zealand | Particularly relevant to the equipment-investment question: ACT's approach generally favours lower tax/regulatory obstacles to investment and open markets. |
| NZ First | Supports trade diversification and FTAs selectively, rather than treating every FTA as inherently beneficial. It is strongly opposed to the India FTA and says it would scrutinise whether agreements actually serve NZ interests. Winston Peters: “Hope, And A Better Tomorrow” - New Zealand First | Places unusually strong emphasis on economic sovereignty, domestic production and supply-chain resilience. Its earlier published trade policy proposed expanding Export Credit Office support and investment in domestic manufacturing. 2023 Election Policies - NZ First | More protection/resilience-oriented. Potentially attractive if your principal concern is overseas supply disruption or domestic industrial capability, but its scepticism about particular trade deals matters if your business depends on those markets. |
| Greens | Support trade, but their stated framework is that trade and foreign investment should prioritise sustainability and justice rather than simply maximising trade volumes. Complete Party Policy - Green Party of Aotearoa New Zealand | Emphasise multilateralism, climate action, peace and an independent international voice. They argue that climate commitments are connected to existing EU/UK trade relationships. Manifesto 2026 - Green Party of Aotearoa New Zealand | The relevant business question is whether environmental/climate requirements add costs or protect access to markets increasingly imposing climate-related conditions. |
One issue has become especially concrete: the US
This isn't merely an election hypothetical anymore.
As of July 2026, most New Zealand goods exported to the US face an additional 12.5% US tariff, on top of normal MFN tariffs, although there are important exemptions including beef and kiwifruit. Some industrial products—including robotics and industrial machinery—have separate treatment and remain subject to potential sectoral tariff investigations. US Confirms Section 301 Forced Labour Tariffs on 99% of US imports; New Zealand Subject to 12.5% Additional Duty | New Zealand Ministry of Foreign Affairs and Trade
That matters for a manufacturer because your exposure depends heavily on your product classification and destination, rather than simply whether you're an exporter.
The Reserve Bank has also highlighted New Zealand's vulnerability to international trade shocks: exports were about 25% of GDP in 2025 and roughly one in four jobs is connected to goods or services exports. It notes, however, that diversification and New Zealand's mix of agricultural and specialised manufacturing exports have so far moderated the direct impact of US tariffs. Recovering in an uncertain world: OECD Economic Surveys: New Zealand 2026 | OECD
China and India illustrate the parties' different approaches
China: China remains enormously important to New Zealand exporters. The government says New Zealand will export about $23 billion of goods to China in 2026 under the existing FTA. Hansard - New Zealand Parliament
So the practical question isn't simply "pro-China or anti-China." It is how a government manages the tension between commercial access to China and closer security relationships with countries such as Australia and the US.
India: This is an unusually clear dividing line.
- National and ACT support the newly signed India FTA.
- Labour ultimately supported it, while saying it wasn't the agreement Labour would have negotiated. Release: Labour to support India free trade agreement
- NZ First opposes it, arguing that the concessions and safeguards aren't sufficiently balanced. Winston Peters - “An Election Like No Other” - New Zealand First
- The agreement is designed to make 95% of NZ exports to India receive full or partial tariff reductions, with 57% receiving tariff-free treatment initially. Weekly Global Economic Report – 7 July 2026 | New Zealand Ministry of Foreign Affairs and Trade
For a manufacturer looking at India as a possible diversification market, that difference is quite material.
What I'd put on your business checklist
Rather than asking which party is "best for exporters," you could compare their policies against five concrete risks in your own business:
Demand risk:
Which parties are proposing the most credible expansion/diversification of overseas markets?Tariff/access risk:
Does your product depend heavily on the US, China, Australia, EU, India or another market—and what does each party propose regarding those relationships?Freight/supply-chain risk:
Which approach gives you the greatest resilience if shipping routes, fuel or imported components become expensive or disrupted?Capital-investment risk:
If you buy the equipment, what happens to your after-tax return under each party's investment/depreciation settings? This is particularly worth examining given ACT's investment incentives and Labour's proposed small-business equipment write-off. Labour proposes allowing eligible small businesses to immediately write off up to $10,000 of new equipment from July 2027. Labour's Small Business Action PlanSkills/workforce risk:
Compare immigration and vocational-training policies separately from trade policy. For a manufacturer, the ability to recruit specialised workers can matter just as much as a tariff reduction.
One particularly useful fact for your decision is that National, Labour and ACT all supported the India FTA in Parliament, while NZ First and the Greens voted against the relevant legislation. That gives you a concrete example of how their stated philosophies translate into an actual trade decision. Tuesday, 15 September 2026 | Order Paper
If you tell me what your business manufactures, roughly where you export (e.g. Australia/US/China/EU), and whether the proposed equipment is mainly for increasing capacity or replacing labour, I can turn this into a neutral party-by-party comparison specifically around your business risks, including immigration/skilled-worker policy, tax treatment of equipment, energy costs and freight.
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Captured 5 October 2026 · shown as ChatGPT gave it, not a verified account