Prime Minister Gaston Browne
Prime Minister and Finance Minister Gaston Browne has expressed deep concerns over the potential impacts of new U.S. trade policies on the economy of Antigua and Barbuda.
During his weekly radio program, Browne indicated that his administration may need to revise its economic growth forecasts for 2025, now predicting significantly lower growth than the previously projected 6 percent increase in real Gross Domestic Product for this year.
The catalyst for this adjustment is the newly enacted baseline tariff of 10 percent on all goods entering the United States, a measure that affects not only Antigua and Barbuda but also most countries within the Caricom bloc.
With the nation’s goods exports to the U.S. being quite limited compared to the volume of imports, the new tariffs will contribute to a widening trade imbalance that has historically favored the U.S.
The implications of these tariffs extend beyond mere economic predictions. They represent a shift in the trade landscape that could lead to increased costs for consumers in Antigua and Barbuda, as businesses are likely to pass on the tariff costs to their customers.
As foreign goods become pricier, local consumers may feel the pinch, leading to broader inflationary pressures across the economy.
Sir Ronald Sanders, Antigua and Barbuda’s Ambassador to the U.S., has vehemently called for a reassessment of the tariff regimes affecting Caricom nations.
His appeals highlight a growing frustration within the region regarding trade policies that disproportionately disadvantage smaller economies reliant on imports.
Furthermore, concerns have surfaced regarding additional levies proposed by the Trump administration, particularly those targeting Chinese-built ships docking at U.S. ports.
Such measures threaten to escalate freight costs, further exacerbating inflation and complicating the economic trajectory for nations like Antigua and Barbuda.
As the situation unfolds, the government is urged to explore alternative strategies to cushion the impact of these tariffs and maintain economic stability for its citizens.
The dynamic nature of international trade policies necessitates a proactive approach to safeguard the interests of the nation amid these challenging times.
MAKE THIS, MAKE SENSE!!! U.S. goods coming into Antigua, would have to be tariffed by our government in order for there to be drastic increases in prices!! NOW, can someone please enlighten me, as to WHICH goods specifically, Antigua EXPORTS to the U.S. ( besides it’s citizens, of course?) ECONOMICS 101! As a leader of a country, it is advisable to the take a course!!🤷
Well we are a small country that is dependent on others to feed us. Price of shipping is expected to go up which means price of imports will increase, which means taxes will do the same as well very unfortunately but the government will have no choice.
The Chinese cargo vessels can start bringing the goods straight to Antigua and the other Caribbean islands instead of going through American port. Caribbean people need to start buying directly from China and South America. Sometimes I wonder in the twenty-first century, why when Caribbean countries purchase goods from China or European countries, our goods have to go through America port. Even buying from Jamaica, the goods have to go through America (Miami) first.
Things must be done in an orderly fashion. Antigua does not buy enough of anything for ships to come from China directly to us. There are portions of items we buy. Therefore, everything comes from China is checked and apportioned accordingly in the US. And then it is sent here. Imagine shipping a whole ship to Antigua with 8 containers! Hope that makes sense.
The delivery must be streamlined to the Caribbean as a region.Thus the vessel stops at the Caribbean ports and offloads the containers, and collects any goods that the larger islands may be exporting!
There must be a way to circumvent the USA and their nonsense! It’s early days with all the changes but we must find a way.
The USA has become a bully and we must refuse to be bullied or coerced by them! It’s only because we need their tourism dollars that they are tolerated although just how hard this will hit our tourism trade remains to be seen.