Government Engages with US Trade Representative on New Tariff Regime

• Prime Minister, Dr. the Most Hon. Andrew Holness, says the Government is actively engaging with the United States (US) Trade Representative and other relevant authorities “to seek urgent clarification” on the new US tariff regime. He highlighted that the United States Government recently imposed a 10 per cent baseline tariff on imports from all countries, introducing a significant global trade policy shift.
• Dr. Holness informed that Jamaica, like other CARICOM nations, has traded with the US under the Caribbean Basin Initiative (CBI), which provides non-reciprocal duty-free access for a wide range of products to the US market.
• The government is awaiting formal notification on the implementation of the new tariffs and whether they will override existing CBI provisions. In the meantime, it is conducting a technical assessment with relevant ministries to understand the tariffs' scope and impact on Jamaica's trade.
• He also added that the Government will continue to advocate for manufacturers and exporters to ensure their interests are protected in any new global trade architecture.
• The Administration will continue working to ensure the country secures its economic independence, even as it remains alert and responsive to evolving global trade dynamics that affect manufacturers and exporters. He also encouraged them to explore new opportunities, assuring them that the Government will collaborate with them.

(Source: JIS)