Trump’s 10% tariffs on goods from over 90 countries, including Caribbean nations will take effect on August 7th.
The tariffs mean companies importing foreign goods into the US will have to pay the taxes to the government, and experts suggest these companies may pass costs on to consumers.
In the case of Trinidad, they have been hit with 15% and Guyana 15%
The new tariffs will come into effect on 7 August, except for Canada’s 35% rate, which started on 1 August – although most goods are exempt due to the US-Mexico-Canada trade agreement
Brazil faces one of the highest US tariff rates in the world, with a 50% rate on most goods.
Negotiations are still under way with China as Beijing and Washington have agreed to hold off until 12 August.
And Mexico also gets a reprieve as Trump said it would be charged at current rates for another 90 days, avoiding a threatened increase to 35%.
