Prime Minister Dr Andrew Holness - FILE PHOTO
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Prime Minister Dr Andrew Holness is urging Jamaican businesses to look to new markets, while at the same time committing to protecting their interests in light of the imposition of the 10 per cent tariff on exports to the United States.
The Prime Minister, who was speaking Thursday at EXPO Jamaica's opening ceremony at the National Indoor Sports Centre, said nearly 90 per cent of Jamaican exports to the United States enter under preferential terms.
He said, while the Government has not yet received formal notification on the precise implementation procedures – including whether the new tariff will override existing Caribbean Basin Initiative provisions – it is actively engaging with US trade representatives to seek urgent clarification.
Dr Holness said his administration is conducting a detailed technical assessment to fully understand the scope of the tariff and its implications for Jamaica's trade and industrial policy.
The Prime Minister said preliminary analyses indicated that some of Jamaica's top exports might fall under exempt product categories and that the Government was working to confirm and, where possible, expand these exemptions.
Further, he said there are possible opportunities arising from the tariff issue, stressing the need to be proactive and prospective.
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