Proman welcomes removal of US tariffs

Proman, Trinidad and Tobago’s (TT) sole producer of Urea Ammonium Nitrate (UAN) and the second-largest exporter of UAN to the United States (US), has welcomed the US government’s decision to eliminate tariffs on fertiliser exports. This move is expected to strengthen TT’s position as a reliable global supplier in the fertiliser and energy sectors. Managing Director Anand Ragbir highlighted the significance of this development, stating that it ensures price stability for farmers and safeguards critical export revenues for TT. Proman, a major tenant and employer at the Point Lisas Industrial Estate, is one of the top ten fertiliser producers globally, supplying UAN to farmers worldwide to enhance crop yields. The US remains TT’s largest trading partner and Proman’s primary export market for UAN. The tariffs, initially imposed by former US President Donald Trump in April, subjected several TT exports to a 15% duty, excluding energy products. However, following negotiations and adjustments, Trump expanded the list of exempted goods on November 14, including agricultural products and fertilisers. This decision reflects progress in trade talks, domestic demand, and production capacity. The exemption list now includes coffee, tea, tropical fruits, cocoa, spices, bananas, oranges, tomatoes, beef, and additional fertilisers. Reuters reported that this tariff rollback impacts over 200 food products, with recent US consumer price index data showing significant price increases for items like ground beef and steaks, despite claims of minimal inflation.