“The recently published executive order does not modify the 10% tariff applied to Costa Rican exports to the US market.” In this way, the Minister of Foreign Trade, Manuel Tovar, detailed how the latest announcement by US President Donald Trump applies to Costa Rica.
The US president announced on Wednesday that the highest tariffs (except for China) were postponed for 90 days. However, the question remained as to what would happen to countries that, like Costa Rica, had received the base tariff of 10%. Even this week, the head of Comex said at the government press conference that they were trying to confirm the effects of the US announcement, given earlier.
What Costa Rica Is Doing
The US tariff package was announced on April 2 and varies by country. In Costa Rica’s case, Washington considered that measures equivalent to a 17% tariff were being imposed. In contrast, they responded with a 10% measure.
This week, national authorities confirmed approaches with the United States and other measures to address the potential impact of the measure. The actions include: Outreach to the private sector: Costa Rican exporters are being approached to inform them of the actions underway to address this situation.
Talks with the United States: “We have intensified a very constructive dialogue with our North American partners, with the aim of ensuring the best market access conditions for Costa Rican exports,” says Tovar.
Market Search: There is a renewed focus on diversification and an emphasis on continuing to negotiate more free trade agreements.
Attracting Investment: Procomer is tasked with continuing to position domestic production.
Measures are carried on
“I reiterate, once again, that the Government of the Republic will continue working on the measures,” Tovar stated after the updated measures were confirmed. This week President Rodrigo Chaves reported that he met with all the relevant officials involved in the issue to implement the action plan. He withheld details, stating that other countries are working on the same task and that he would not reveal Costa Rica’s entire strategy.
