US president Donald Trump is due to sign an order in just over two hours introducing tariffs on steel and aluminium imports. There's widespread concern the protectionist move could be the spark that ignites a global trade war.
At the other end of the trade spectrum, the revised Trans-Pacific Partnership deal has just been signed in Chile by Trade Minister David Parker.
The controversial deal, which survived the United States' withdrawal last year, will eliminate over 95 percent of all tariffs in a grouping worth U$10 trillion.
Its supporters argue it'll boost incomes and jobs, while its critics counter New Zealanders will lose the right to make decisions in their interests.
