QCOSTARICA — Costa Rica was not spared by U.S. president Donald Trunp tarrifs that may affect Costa Rican coffee, pineapple, banana and melon, among others.
The Donald Trump administration announced on April 1 that it will impose differentiated tariffs worldwide, with Costa Rica required to pay 10%.
This same percentage will apply to Brazil, Colombia, Argentina, Chile, Peru, the Dominican Republic, Ecuador, Guatemala, Honduras, and El Salvador.
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Nicaragua will have to pay 18%.
The new tariffs will take effect on Costa Rican exports starting April 5.
“I think the figure is conservative for the Costa Rican economy. The free trade zones will not be affected, but primary sector exports such as pineapple, bananas, melon, and coffee, which have already suffered from the exchange rate, will be,” said financial analyst Daniel Suchar.
Trading partners such as China will have a 34% tarrif); Japan, 24%); India, 26%; and the European Union, 20%.
“I will sign a historic executive order establishing reciprocal tariffs with countries around the world. Reciprocal means: they do it to us, and we do it to them,” he declared at the White House.
Donald Trump asserted that the tariff policy will generate “trillions of dollars to lower their taxes and pay off their debt.”
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Reuters reported on Wednesday that the Costa Rican government said it will engage in dialogue with U.S. authorities to seek better access conditions for Costa Rican products.
The United States is Costa Rica’s top trading partner.
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