Opposition Leader Basdeo Panday predicts tough economic times ahead for the country.

He says this would be our fate as the United States has removed Trinidad and Tobago from the Generalised System of Preferences.

And he’s accusing the Government of attempting to hoodwink the population about the possible effects.

He argues the cost of goods and services are increasing due to inflation to the extent people can no longer afford to buy food.

Mr. Panday says the withdrawal from the Preferences List will cause manufacturers to encounter difficulties in selling their products in the US.

He says it’s so ironic that while Trinidad and Tobago is now being classified as too rich, citizens are experiencing hardship in meeting their basic needs and expenses.