The Jamaican Government says its preliminary assessment is that US President Donald Trump’s decision to impose import tariffs of 25 percent on steel and 10-percent on aluminium is not expected to have a major negative impact on Jamaica.
President Trump announced the decision recently but exempted Canada and Mexico from the measure. Foreign Affairs Minister, Senator Kamina Johnson Smith, says the tariff is expected to only have a limited impact on Jamaica.
The Foreign Affairs Minister addressed the issue Friday in a statement to the Senate.
Mrs. Johnson Smith also gave details as to why the impact of the tariff on Jamaica is expected to be restricted.
The Foreign Affairs Minister further expanded on why the tariff imposed by the Trump-administration is not a major concern to the Holness-administration at this time.
Mrs. Johnson Smith says despite the initial assessment of what the impact of the tariff on Jamaica may be – her Ministry continues to monitor the issue and carry out further analysis.
Meanwile, Opposition Senator and former Foreign Affairs Minister, KD Knight is calling for the Government of Jamaica to re-examine its negotiating position on the issue of tariffs.
Senator Knight made the call while he responded to Minister Johnson Smith’s statement in parliament today. He described President Trump’s decision as a major shift in US Foreign Policy.
Senator Knight says Jamaica has had to over the years indicate that it does not support a wholesale removal of tariffs because tariffs are a major source of income.
Knight says it may be time for Jamaica to reassess its negotiating position when it appears before international trade bodies such as the World Trade Organization, WTO.
Responding – Minister Johnson Smith reiterated that the Government is closely monitoring the potential impact of trade decisions made by its international partners.
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