By Bert Wilkinson\Caribbean Life
Photos: YouTube Screenshots
A recent study conducted by the umbrella Caribbean Private Sector Organization (CPSO), the World Bank, and regional governments says the bloc will likely suffer nearly $550 million in revenue losses from tariffs imposed by the Trump administration in the coming years.
Completed in time for presentation while many relevant officials were in western Jamaica for this week’s CARICOM leaders summit, the report painted a gloomy picture for several regional economies, including Guyana, Haiti, The Bahamas, and Trinidad.
People like CPSO President Patrick Antoine of Grenada used the opportunity of a forum on the summit’s sidelines to update the region on how negatively the tariffs will affect exports, suggesting that these threaten to upend much of the growth regional industry has made over the decades.
“Trinidad and Tobago will be the hardest hit regarding export losses, followed by The Bahamas, Haiti, Guyana, and other member states. The region’s projected annual loss at the 10 % tariff rate is over half a billion US dollars. That’s not just a headline. That’s real jobs and livelihoods.” READ MORE…
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