United States' 10 percent customs tariff threatens Guatemala's foreign trade and employment
Key Points
- The 10 percent customs tax applied by the US has reduced agricultural and manufacturing exports in Guatemala.
- Agexport announced that the export losses experienced have put the employment of thousands of people at risk.
- Fruits, vegetables, legumes, and manufactured goods are among the most affected sectors.
- The Guatemalan government will share new information regarding the trade agreement next week.
By the Numbers
According to the Guatemalan Exporters Association (Agexport), the 10 percent customs tariff applied by the United States negatively affects the country's foreign trade. The said additional tax causes significant declines especially in the export of products in the agricultural and manufacturing sectors.
Products such as fruits, vegetables, legumes, and various manufactured goods, which are prominent in Guatemala's exports, are directly affected by this situation. Industry representatives warn that this contraction in exports jeopardizes the jobs of thousands of workers.
The Guatemalan government plans to announce details regarding the trade agreement next week. Officials state that diplomatic and commercial negotiations are ongoing to clarify the situation and prevent exporters from being harmed.
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Frequently Asked Questions
- How does the US customs tariff affect Guatemala?
- The applied 10 percent additional customs tax causes significant declines in Guatemala's agricultural and manufacturing product exports.
- Which sectors are most affected by the tariff?
- Fruits, vegetables, legumes, and general manufactured goods stand out as the main sectors that suffer the most damage and experience a drop in exports.
- What steps is the Guatemalan government taking regarding the issue?
- The government plans to share current information and possible solutions regarding the trade agreement with the United States with the public next week.
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