The final deal suspends the debt limit until 2025 and follows weeks of negotiations between Democrat and Republican leaders, with the legislation signed into force just two days before the date when the US Treasury had indicated the US would begin to default on its obligations. US President Joe Biden has signed into law the deal agreed with Congressional leaders last week to raise the US debt ceiling.When fully implemented the FTA is estimated to increase New Zealand’s exports to the UK by up to 53%, and to boost New Zealand’s GDP by NZ$1 billion. The New Zealand-United Kingdom Free Trade Agreement entered into force on Wednesday 31 May, unlocking opportunities in a crucial market for some of our key exports, with one of the best market access packages New Zealand has secured in any trade deal.If you would like to subscribe to this weekly update, go to our subscription page (external link) or email us at Highlights We welcome feedback from New Zealand exporters on this report and invite requests for reporting from New Zealand’s network of Embassies and High Commissions.
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