A simple but powerful economic model is utilized to characterize the main features of the Jamaican cement Industry; and to isolate the effect of changes in import tariffs/duties on the domestic price of cement. The monopoly producer, Caribbean Cement Company Limited (CCCL), generated approximately $694 million less revenue because competitive forces, stimulated by the waiver of safeguard measures, constrained CCCL’s ability to profitably increase the domestic price of cement. Price levels were estimated to be, on average, 3 percent lower than what they likely would have been had the measures not been waived.
Government of Jamaica 