2 weeks ago
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Anthony N Sabga III - ANSA McAl CEO Anthony N Sabga III was not too concerned with the increase in tariffs on exports from TT to the US, he said during the group’s quarterly shareholder meeting at the Brix Hotel on August 8.
“Its an area to be watched,” he said. “It is certainly not an area to be ignored, but one for which we're not overly frazzled about.
“It is what it is. These are climatic conditions and as with any other business you have to be agile and adjust.”
He made the statement while responding to questions on the increase in US tariffs on exports from 10 per cent to 15 per cent.
The 15 per cent tariff came into effect on August 7. This means that all exports from TT to the US will now attract an additional 15 per cent tax on the US end.
While Sabga said he was not worried, he did note that it had a minor effect on operations of Bleachtech, the group’s three-hundred-million-dollar chlor-alkali plant which it acquired in 2024.
“Bleachtech had on order some key parts that fell under the rare earth mineral tariffs that the US had imposed on China,” Sabga said.
“As a result it delayed one of the short-circuiting plans that we had to get the plant reliability up. The team was able to rally and we are sourcing those materials from elsewhere.”
Sabga also highlighted the group’s success in other markets, particularly India, where the group’s flagship brand, Carib, had officially been on sale since May.
“From what I understand, the brand is fantastically well received, and we are slowly building distribution points and building alongside that a marketing plan with a company,” he said.
Beverage sector head Peter Hall added that Carib is now making its mark in Northern India.
“We have already launched in the Delhi suburbs and also in the city of Lucknow. We expect soon to be available in central Delhi,” he said.
English (US) ·