Big news for Trinidad and Tobago's economy! The United States has eliminated tariffs on critical nitrogen and phosphate fertilizers, a move set to significantly boost the competitiveness of TNT exporters.
This decision, welcomed by the American Chamber of Commerce of Trinidad and Tobago, promises to protect jobs and enhance trade relations. With over $3 billion in unhygienous ammonia, urea, and urea ammonium nitrate exported to the US in 2024, this tariff reversal is a game-changer.
What does this mean for local industries? Expect renewed certainty, improved trade facilitation, and a stronger position to seize international opportunities.
00:00A release from the Ministry of Foreign and Caracom Affairs says the United States will now impose zero tariffs on critical nitrogen and phosphate fertilizers entering its market, a move that will boost the competitiveness of TNT exporters and protect jobs along the value chain.
00:18In 2024, Trinidad and Tobago exported over $3 billion TNT worth of unhygienous ammonia, urea and urea ammonium nitrate to the United States, our single largest trading partner for both imports and exports.
00:35The American Chamber of Commerce of Trinidad and Tobago is welcoming the United States' decision.
00:40Amcham TT CEO Narad Tawari says, quote,
00:44This means our agricultural and downstream exporters can operate with renewed certainty and competitiveness.
00:51It also reinforces the need for us to continue improving trade facilitation, accelerating ease of doing business reforms and ensuring that our local industries are well positioned to take full advantage of international opportunities, end quote.
01:06The reversal of the tariffs comes less than one month after this country's largest ammonia producer, Nutrien, shut down its local operations.
Be the first to comment