Bahamian Government Stepping Up Efforts to Return US Trade Tariffs to 10%

• Agriculture and Marine Resources Minister Jomo Campbell said The Bahamas is stepping up negotiations with the United States (US) to reduce its new 12.5% tariff, with the government hoping to get the country back to the 10% rate that applied before July 24.
• Mr Campbell said there has been “a lot of back and forth” on the issue, with more than 2,100 meetings being held involving more than 60 countries affected by the US tariff measures. The government is also hoping to meet with the US ambassador again to present The Bahamas' position on the way forward.
• The government had also been seeking to address the US position that led to The Bahamas receiving the higher tariff rate, after Washington cited concerns over the country's prohibition and enforcement of a ban on imports produced using forced labour.
• His comments indicate that the government has not yet secured a reduction or exemption, with diplomatic and trade discussions continuing as officials work to establish the terms for a lower tariff burden on Bahamian exports.
• The issue is particularly significant for the fisheries sector, with the United States serving as a major market for Bahamian seafood exports and crawfish and stone crab among the products the government has specifically sought to exempt from the new tariff.

(Source: The Tribune)