T&T Chamber Sounds Alarm Over US tariffs

• The Trinidad and Tobago Chamber of Industry and Commerce (T&T Chamber) is warning that sweeping new US trade measures threaten to disrupt the flow of goods, spike consumer prices, and undermine export competitiveness across the Caribbean.
• The Chamber said two proposed US policy changes—announced by the Trump administration—have triggered concern.  These included a baseline 10.0% import tariff on all goods entering the United States, effective April 5, 2025, including from longstanding partners such as Trinidad and Tobago, and a US$1Mn fee on any Chinese-built vessel docking at US ports—posing major risks to regional shipping logistics.
• The United States accounts for 37.0% of T&T’s exports and 39.0% of its imports, making the local economy highly vulnerable to US trade shifts.
• The Chamber said, “This is not business as usual. The implications span from our petrochemical, crude oil, LNG exports to the cost of food, machinery, and household goods.” “Early estimates suggest the vessel surcharge could raise regional freight costs by up to 60.0%, with consumer prices surging 15–20.0%.”
• The T&T Chamber is urging swift, coordinated action. T&T and CARICOM must press for exemptions or phased relief via the Organisation of American States (OAS), World Trade Organization (WTO), and direct US engagement. A Tariff Impact Task Force—including public and private sector leaders—must be activated to track fallout and advise policy responses in real time. The Chamber supports regional investment in non-Chinese vessels and joint procurement models to minimize exposure to US port penalties.

(Source: Loop News)