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  • 8 months ago
The Prime Minister said that the new reciprocal tariff regime set to be imposed by the U.S "does not appear to be a blanket Tariff of 10% on all Goods, exported from Trinidad and Tobago into the United States. "

This, as the Energy Chamber is expressing its concerns about the new tariff as some of its members are major exporters to the US.

Juhel Browne reports.

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Transcript
00:00On Thursday, Prime Minister Stuart Young responded to the announcement by US
00:04President Donald Trump on Wednesday about reciprocal tariffs to take effect
00:09on global imports to the US by the end of this week.
00:12What I can tell the population is that from an initial information perspective
00:18it is not a blanket, it does not appear to be a blanket tariff of 10% on all
00:25goods exported from Trinidad and Tobago into the United States. There are, it
00:30appears, certain exceptions. So we're currently studying that. Right now at 2
00:37p.m. the Minister of Trade and Industry will be meeting with the United States
00:41personnel at the US Embassy to start gathering more information so we can see
00:46how this may impact us. TV6 used a sort of clarification from Prime Minister
00:51Young on the matter using the example of methanol produced in and exported
00:57from Trinidad and Tobago.
01:07I saw a commentator suggesting that it would because of course taxation
01:13theoretically is calculated on the profit being made and if there's a
01:17tariff that is then put into the cost of sales and therefore the cost that it
01:23costs to export. The Prime Minister said it may be premature for him to make any
01:28declaration at this stage.
01:47So there is a lot to be worked out but as well I am being told in a
01:53preliminary manner some of those products I've just listed may not be
01:59affected by the tariffs. The Energy Chamber expressed its concerns and said
02:02it is consulting with member companies who are major exporters to the USA and
02:07with government officials and other stakeholders in order to fully
02:11understand any potential impacts of new tariffs.
02:15Jule Brown TV6 News
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