PSOJ supports government's strategy to handle US tariffs

 

President of the Private Sector Organisation of Jamaica (PSOJ), Metry Seaga, says he is satisfied with the government's handling of the 10% tax imposed on Jamaican goods entering the United States, following a meeting with Prime Minister Dr. Andrew Holness and other government officials on Thursday.

 

Dr. Holness met with private sector leaders to discuss urgent international trade-related issues, including global tariffs and the existing domestic and world economic environment.

 

Addressing the meeting, the Prime Minister reiterated that the government will continue to strategically engage bilateral partners on critical issues, especially recent events including Cuban healthcare workers, visas and mass deportation.

 

Dr. Holness further indicated that the government has been restructuring internally to survive the changing dynamic.

 

Meanwhile, Minister of Foreign Affairs and Foreign Trade Senator Kamina Johnson Smith told the private sector leaders the government will defend Jamaica's interests and balance them as best as possible with the region. 

 

In an interview with the Radio Jamaica News on Friday, Mr. Seaga said the private sector now has a clear understanding of how the government has been dealing with the tariff regime and its future plans. He said the government has adopted a wait-and-see mode, which the PSOJ supports.

 

"We as Jamaicans recognise that we are certainly no worst off than we were before. Even though there is a 10% tariff into the US at this point, that's the lowest rung on the ladder, so everybody else in the world who is importing into the US has to pay that 10% as well. There are many countries that are paying significantly more than that 10%. So...the government has decided to watch and see where this all ends up. We are happy with that," he asserted. 

 

Mr. Seaga said while it is still early days, the PSOJ is certain that bauxite and fuel will not be affected by the 10% tax.