GSMA welcomes US tariff reduction

The Guyana Manufacturing and Services Association (GMSA) has welcomed the recent Executive Orders by the United States Government reducing the reciprocal tariff rate on Guyanese exports from 38 per cent to 15 per cent.
The GMSA in a statement expressed appreciation to the Government of Guyana for its engagement and representation during the negotiation process.
It said discussions remain ongoing and voiced support for continued diplomatic and trade efforts to secure further reductions.
The association said it remains committed to advocating for the interests of local manufacturers and service providers and will continue working with national and international partners to unlock new trade opportunities.
The BBC reported that Canadian imports will face tariffs as high as 35 per cent, among the highest announced. Thailand, which had been slated for a 36 per cent tariff, will now face a reduced 19 per cent duty, aligning it with regional peers such as Indonesia and the Philippines.
Mexico has been granted an additional 90 days to conclude a trade agreement, while Taiwan faces a 20 per cent tariff. It remains unclear whether its semiconductor sector will be subject to additional sector-specific levies.
Tariff rates go as high as 50 per cent on some goods, signalling a major escalation in the administration’s global trade strategy.