GEORGETOWN, Guyana – The Guyana Manufacturing and Services Association (GMSA) Friday said it welcomed the decision of the United States President Donald Trump to reduce the reciprocal tariff rate applied to Guyanese exports from 38 to 15 per cent.
President Trump has signed an executive order adjusting the so-called “reciprocal” tariffs on a slew of countries, with the new levies ranging from 10 to 41 per cent. Canada, Brazil and Switzerland were hit especially hard with higher rates.
The US Trade Representative Jamieson Greer says the bilateral trade deals Trump has made will stick even if the US Supreme Court rules that the president does not have the legal authority to impose his country-specific tariffs.
In a statement, the GMSA said it wanted to extent “sincere appreciation” to the Guyana government “for its active engagement and representation throughout the negotiation process. “The Association also acknowledges that discussions remain ongoing and expresses its full support for continued diplomatic and trade efforts aimed at securing further reductions of these tariffs.”
The GMSA said it remains committed to advocating for the interests of local manufacturers and service providers and “will continue to work with national and international partners to unlock new trade opportunities for Guyanese businesses”.
