Tuesday 17 October, 2017

Trump could be good for Jamaica - Shaw

He was speaking at the Mayberry Investment Forum held at the Knutsford Court Hotel in Kingston last week.

“I am optimistic that we can have a productive relationship with the new President. He is a businessman and he knows the value of partnerships and good economic relationships,” said Minister Shaw.

Donald Trump was sworn- in as the 45th President of the United States  at an inauguration ceremony in Washington on Friday.

Shaw further added that there is a likelihood that there could be a similar relationship that existed between President Ronald Reagan  and Prime Minister Edward Seaga in the 80s.

Then Reagan oversaw the implementation of the Caribbean Basin Initiative ( CBI).

The Caribbean Basin Initiative was a unilateral and temporary United States programme initiated by the 1983 Caribbean Basin Economic Recovery Act. The CBI came into effect on January 1, 1984 and aimed to provide several tariff and trade benefits to many Central American and Caribbean countries.

Through the CBI, more than 75 per cent of Jamaica’s trade enters the United States duty free. In President Trump’s inaugural address he said: “ From this moment on ,it’s going to be America first. Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American workers and American families.

“We must protect our borders from the ravages of other countries making our products,stealing our companies and destroying our jobs. Protection will lead to great prosperity and strength.”

FEATURED PHOTO: US President Donald Trump (centre) with members of his family and staff on his first day in office on Friday.