AFC, GAAC express concerns over Trump’s 38% tariff on Guyanese goods

Apr 04, 2025 News

Kaieteur News- The Alliance for Change (AFC) is calling for a united national response to the United States’ decision to impose a 38% rate of tariffs on goods exported from Guyana.

The party warned that the tariff could have significant negative effects on the country’s economic development, urging political consensus and collaboration across party lines to address the situation.

“We repeat our call for mutually agreed political consensus across the political divide on short-, medium- and long-term economic development plans in the national interest,” the AFC stated in a release on Thursday.

Further, the imposition of the tariff has sparked concerns from the Guyanese American Chamber of Commerce (GACC) as well.

In a press release, GACC highlighted that the move signals a dramatic shift in trade relations between the US and Guyana. According to the GACC, the tariff is linked to Guyana’s rapidly growing oil industry, which has contributed to a trade surplus with the US.

“The imposition of these tariffs appears to be linked to the evolving economic landscape, particularly Guyana’s rapidly growing oil industry,” the Chamber said.

Further, GACC also expressed concerns that the tariff will have severe repercussions for Guyana’s agribusiness and manufacturing sectors, which rely on access to the US market. The Chamber further warned that the tariff could lead to job losses in both Guyana and the United States.

“This policy threatens to undermine the gains being made by many agribusinesses and manufacturing entities,” the GACC stated.

United States President Donald Trump imposed a 38% rate of tariffs on goods from Guyana on Wednesday, as he unveiled a sweeping new trade policy, which targeted some of that country’s biggest trading partners.

The rate imposed on Guyana is the highest for Latin American and Caribbean countries and comes just days after President Irfaan Ali vowed to stand by Washington amid threats to impose tariffs on Chinese-built vessels during a news conference last week with US Secretary of State Marco Rubio.

According to the US’ new tariffs policy Brazil, Bahamas, Haiti, Jamaica, Suriname, Barbados, Antigua, St Kitts and Nevis, Grenada, and St. Vincent have all been charged 10% tariff.

Trinidad and Tobago has been slapped with 12%, and Venezuela 29%. In reacting to the move by the US, the Government of Guyana, in a statement, said that it has taken note of the reciprocal tariffs announced by the US Government.

“Our government is closely engaged with our US partners to better understand the issue and have it addressed as appropriate,” the statement concluded.

(AFC, GAAC express concerns over Trump’s 38% tariff on Guyanese goods)

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