Minister of Trade and Industry Paula Gopee-Scoon was scheduled to have discussions with the US Embassy on Thursday afternoon, regarding the United States’ imposition of a 10% tariff on T&T’s exports to the United States.
On Wednesday, US President Donald Trump unveiled a detailed list of reciprocal duties targeting more than 60 countries on ‘Liberation Day,’ asserting that the move was necessary to combat unfair trade practices.
During the weekly Post Cabinet Media Briefing, Prime Minister Stuart Young said Government is currently gathering information and understanding the specifics of the tariff imposed by the US, noting that it may not be on all products.
“The Minister of Trade and Industry will be meeting with the United States personnel at the US embassy to start gathering more information so we can see how this may impact us. From a logical point of view, the wide ranging imposition, meaning many, many countries across the world, some with higher rates than others, it does not appear on the initial face of it that it makes things less competitive, because if everybody’s starting off at a baseline, it means everybody increases. But it is premature for me to say anything at this stage as to the specifics of Trinidad and Tobago, because there are exceptions, and they’re still gathering information.”
The Prime Minister said the matter will be raised at a virtual meeting of CARICOM Heads of Government soon.
“I also spoke to Secretary of State, Rubio about the tariffs that we were then aware of, the potential of tariffs, for example, in the shipping industry, with respect to any Chinese vessels, or any Chinese vessels in a fleet, or orders for Chinese and to have that opportunity to explain first hand to the decision makers in the United States Government how it may negatively affect not only Trinidad, we have a CARICOM Heads Meeting on the 11th of April, a virtual meeting. And I am certain if we don’t have a meeting before then that schedule meeting, this whole topic of conversation will come up.”
Guyana was also hit with tariffs from the United States, with a 38% tariff on goods exported from that neighbouring country to the US.