Experts warn proposed levy on U.S. imports could affect Jamaica

International financial experts are suggesting that Jamaica could be adversely affected if a proposal for a new levy on U.S. imports included in a Republican tax reform plan is implemented.
In a report released recently, rating agency Moody’s said that a 20 per cent tax on U.S. imports could lead to an appreciation of as much as 25 per cent in the dollar.
Such a move would hit countries with high levels of US dollar-denominated debt such as Jamaica and Venezuela.
The proposal has also raised fears of looming trade skirmishes.

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