KINGSTON, Jamaica, CMC – Minister of Overseas Affairs and Overseas Commerce Kamina Johnson Smith says the Authorities has taken be aware of the brand new tariff regime introduced on Wednesday by US President Donald Trump and is searching for to acquire exact info on the adjustments.
“We’re acquiring the requisite technical documentation to make sure accuracy of particulars and acceptable evaluation,” Johnson Smith said on social media platform X on Thursday morning.
“Please be assured that we respect the general public’s want for additional info and readability and can replace the enterprise neighborhood and the broader public accordingly,” she continued.
In the meantime, Sydney Thwaites, President of the Jamaica Producers and Exporters Affiliation (JMEA), says the brand new import taxes imposed by the US will current challenges. Consequently, Jamaican items offered within the US market will probably be extra expensive.
“There will probably be a possible change to the stream of products regionally, and this might have an effect on the availability chain, very like what was seen in 2004. It’ll additionally make the merchandise from outdoors the US much less aggressive. ….it is going to actually make our merchandise within the US dearer, and that may have an effect over time.”
Beneath the brand new regime, exports from Jamaica to the US will entice a ten% tariff.
The ten % tariff additionally applies to most different nations within the Caribbean area, whereas within the case of Guyana, it’s as excessive as 38 %.
Based on US President Donald Trump, the tariffs had been designed to spice up home manufacturing; they used aggressive rhetoric to explain a worldwide commerce system that the US helped to construct after World Conflict II, saying, “Our nation has been looted, pillaged, raped and plundered” by different nations.
Trump mentioned he was appearing to generate tons of of billions in new income for the US authorities and restore equity to world commerce.
