Trump Imposes 10% Tariff on Jamaican Exports

U.S. President Donald Trump has announced a 10 per cent tariff on Jamaican exports to the American market.

The President announced the new tariffs in a media conference at the White House on Wednesday.

According to Mr. Trump, the tariff is in retaliation for the 10 per cent tariff now charged by Jamaica on U.S. imports.

St. Lucia, Trinidad and Tobago, Grenada, St. Kitts and Antigua are among the Caribbean countries that will also see a 10% tariff applied to their exports.

Nearly 60 countries across the world have been hit with tariffs ranging from 10 per cent to as high as 40 per cent. China, countries in the European Union, Taiwan and Vietnam are among the hardest hit. It’s one of the most sweeping impositions of tariffs in U.S. history.

Trump says the tariffs are aimed at protecting American markets from unfair global trade practices. He’s projecting a resurgence in American manufacturing as a result of the sweeping tariffs.

Economists have warned the tariffs could spark a global trade war and significant inflation.