US President Donald Trump announced worldwide trade tariffs on Wednesday - and all across the world, government and business leaders are scrambling to come up with strategies to respond and adjust.
In CARICOM, 11 countries face a baseline tariff of at least 10% on all imports into the U.S- while oil-producing Guyana, has been slapped with a 38% tariff.
And while the regional view is one thing - the global picture is another - where prices of goods entering the US will be more expensive. And, many of those goods find their way onto store shelves in CARICOM countries.
That's why today the Chair of the Caribbean Community, Mia Mottley made a special statement on the impact of the global crises on the Caribbean. She said we all have to be ready for increased prices that are beyond the control of the public or private sector:
Mia Amor Mottley, Chair of the Caribbean Community
"And now we are on the precipice of a global trade war. Our Caribbean economies are largely reliant on imports. Just go to the supermarket or visit the mall or the hardware shop or the electronic store, and you will see that most of the things there are not produced in this Region. Many of those commodities are either purchased directly from the United States of America or passed through the United States of America on their way to the Caribbean region."
"We are working and will continue to work to become more self-sufficient, but I want every Caribbean man and every Caribbean woman to hear me. This trade war and the possibility of a US $1 million to $1.5 million levy on all Chinese made ships entering US harbours will mean higher prices for all of us at the corner shop, higher prices at the supermarket, higher prices at the electronic store, higher prices for us at the shop, higher prices for us at the restaurant, higher prices for us at the current dealership and beyond."
"A lot of Caribbean people will think that these things that you are seeing on television news or reading about are far away and "They don't impact on me." A lot of people think "I'm just a farmer", "I'm just a schoolteacher", or "I'm just a mechanic." They say, "I live in Saint Lucy in Barbados", or "I live in Portmore in Jamaica", or Kingstown in St Vincent, or Arima in Trinidad or Basseterre in St Kitts & Nevis, or San Ignacio in Belize."
"These problems are far away from me, and they don't impact me." That is what you will hear them say. But the reality, my friends, is that if you buy food, if you buy electronics, if you buy clothes, it will impact you. It will impact each of us."
You can find a link to her full remarks on 7newsbelize.com.
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