By: Staff Writer
April 4, 2025
US President Donald Trump has spread his global tariffication programme by announcing a 10 percent tariff on several Caribbean countries and implemented tariffs as high as 38 percent in the case of Guyana.
Trump has already implemented a 34 per cent tax on imports from China and 20 per cent on the European Union and 10 percent on Canada earlier this year.
Trump said that the tariffs geared towards the Caribbean were designed to boost domestic manufacturing, used aggressive rhetoric to describe a global trade system that the United States helped to build after World War II, saying “our country has been looted, pillaged, raped and plundered” by other nations.
The Caribbean exports very little to the US, so export competing industries may feel some sting, but may not be as catastrophic as it was announced.
A cabinet minister, Michael Halkitis, minister for economic affairs in The Bahamas told local media that the 10 percent tariffs will not cause an “immediate major impact” as there are not many exports to the United States, the tariff program will impact The Bahamas in other ways.
He continued: “I’m not so much concerned about 10 percent on exports I’m more concerned about this whole thing is leading to an economic slowdown.”
The Guyana government said it is engaging the United States on the 38 per cent reciprocal tariffs with Finance Minister Dr Ashni Singh saying “the government of Guyana has taken note of the reciprocal tariffs announced by the US government… our Government is closely engaged with our US partners to better understand the issue and have it addressed as appropriate”.
The Private Sector Commission (PSC) warned that Guyana would be severely affected by the protectionist measure.
“United States remains Guyana’s largest trading partner, making it imperative for us to carefully assess the implications of this recent tariff,” PSC Chairman, Komal Singh said, adding “a comprehensive review is necessary to identify common ground and ensure that bilateral trade continues to thrive as our economy expands”.
Trinidad, which exports tons of ammonia, ethanol, natural gas, petroleum gas, and rums to the US, also reacted cautiously. NePrime Minister Stuart Young said at a public meeting on Wednesday night that Trinidad is “prepared to sit across the table and negotiate regardless of who is on the other side.”
At an earlier meeting with the business community, he said, “I will argue and advocate. Over the last 10 years, despite the volatility of the rule, we have had even more volatile times with decisions being made far out of Trinidad and Tobago that have direct effects on us. You see the tariff regimes that are literally arising by the day, but you’ve also seen the ability of credibility and a good reputation,” said Young, moments before Trump announced that T&T would be slapped with a 10 % tariff.
Meanwhile, Jamaica’s government said it was checking the details of the announcement, noting, “We are obtaining the requisite technical documentation to ensure accuracy of details and appropriate analysis. Please be assured that we appreciate the public’s need for further information and clarity and will update the business community and the wider public accordingly. The government of Jamaica has taken note of the new tariff regime announced yesterday by the President of the United States of America,” it said in a statement.
In Barbados, Junior Finance Minister Ryan Straughn said the region must review its import tariff system. “We have put these tariffs in place as a measure to protect domestic and regional businesses as we try to ensure that issues relating to food security as well as jobs. Therefore to the extent that CARICOM, as a body, as a group in relation to these matters, we have a common external tariff in place of which the US would be one of those countries that apply as one of those countries out of CARICOM and therefore I think from a regional perspective we all will have to ensure that we focus on how do we get support for our producers in being able to access the full global supply chain and be able to start to do more trade with each other,” he said on state-run CBC television.