The Trinidad and Tobago Manufacturers’ Association is concerned about the US President’s statement that Trinidad and Tobago has become a high income country.

This follows the President’s decision to remove the country from the General System of Preferences.

In a release the TTMA says the possible absence of such preferences, places the country in a horrible position, since the US is this country’s number one export market.

According to the Association, without Preferences, Trinidad and Tobago would face the same duties as more developed countries.

It says Trinidad and Tobago, either on its own or together with CARICOM needs to discuss a possible Free Trade Agreement with the US to ensure all benefits under the Caribbean Basin Initiative are not lost.