The Caricom Private Sector Organization (CPSO) has said that Trinidad and Tobago could face up to US$291.9 million in potential annual export revenue losses after the US government’s decision to raise TT’s tariff rate from 10 per cent to 15 per cent.

​“This figure widens the gap between TT and other Caricom members in terms of the potential export losses to be incurred as a result of the US measure.”

​The CPSO said over two-thirds of the expected losses are concentrated in the base metal and chemicals sectors. The estimated losses stand at US$199.3 million and US$74.8 respectively.