Analysis - It's hard to know whether to laugh or cry about the latest round of US tariffs that have been slapped on New Zealand.

The US is set to impose new tariffs ranging from 10 to 12.5 percent on 60 economies, including New Zealand, as the Trump administration looks to rebuild its tariff regime.

The trade minister says New Zealand strongly rejects the 'forced labour' justification the United States has used for its latest round of tariffs.

Analysis - It's hard to know whether to laugh or cry about the latest round of US tariffs that have been slapped on New Zealand.