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wood888.net and mitigate the tariff’s effects.
Vice President Bharrat Jagdeo echoed these sentiments,
noting that the US has a significant trade surplus with Guyana,
a fact that complicates the tariff situation.

According to the United Nations COMTRADE, Guyana
exported $3.3 billion worth of goods to the US in 2024, while
importing $2.56 billion, resulting in a trade surplus of $799
million. However, US figures suggest a much larger surplus
for the US at $4.1 billion, which Jagdeo aims to clarify with
US officials. He assured exporters that the government would
support them to maintain economic output and jobs despite
the tariff challenges.
In Canada, exporters are also feeling the pressure from US

tariffs, which have led to a surge in inquiries about trade credit
insurance. This insurance product, which covers losses due to
altogether. "The increased price will have to be borne by customer insolvencies, is gaining traction as businesses seek
our end consumers," he added, highlighting the potential to protect themselves from the fallout of Trump's unpredictable
economic fallout. tariff policies.
Meanwhile, another furniture maker, views Trump’s tariff Currently, Canadian exporters insure less than one percent
threats as more of a negotiating tactic rather than a firm of their overseas payments, even though these account for

policy shift. 40 percent of their revenue.
"It is unlikely to go on in this way," the company’s general Agatha Alstrom, vice president of Insurance and Working
manager remarked, questioning how American consumers Capital Solutions at Export Development Canada (EDC), noted
would cope with the increased costs. As the clock ticks down that inquiries about credit insurance have increased by 10
on the 90-day tariff window, manufacturers are left hoping for percent since January.
a resolution that will stabilise their export market. "Tariffs are changing significantly from day to day," Alstrom
In a related development, the Government of Guyana is said, emphasising the uncertainty that exporters face. EDC is
also grappling with the ramifications of US tariffs. deploying C$5 billion under a government program to assist
President Irfaan Ali announced plans to meet with local businesses affected by tariffs, but only about five percent of

exporters to assess the impact of a newly imposed 38 percent export businesses currently have credit insurance.
reciprocal tariff on Guyanese goods. This tariff, introduced As Canadian exporters brace for potential bankruptcies
by Trump, was justified by claims that Guyana imposes high due to rising tariffs, the demand for trade credit insurance is
tariffs on US goods, which Trump categorised as currency expected to grow.
manipulation and trade barriers. Michelle Davy, chairwoman of the Receivables Insurance
Ali stated, "As we said earlier, the US is a strong partner of Association of Canada, indicated that the fear of insolvencies
Guyana, and we have a lot of discussions and conversations is driving this increased interest.

that are ongoing." He has tasked the Minister of Finance to "People are afraid," she said, reflecting the anxiety
engage with exporters to understand the current circumstances permeating the export sector.