By Okoye Henry
KINGSTON, Jamaica, (JIS) – The CARICOM prime ministerial sub-committee on external trade negotiations met July 7 to strategise a response to the ‘America First’ trade policy, which imposes a 10 percent baseline tariff on CARICOM imports into the United States.
The meeting, chaired by prime minister and new CARICOM chair, Andrew Holness, was held at the Jewel Grande in Rose Hall, St James. Holness said there is need for a united response to the policy, which he noted, represents a “critical juncture” in the region’s trade and economic relationship with the US.
He said that, with the 90-day pause on the imposition of the 10 percent tariff set to end on July 9, CARICOM leaders are focused on mitigating any potential impact for regional exports to the US, which is their largest trading partner.
Prime Minister Holness said prime minister of Barbados, Mia Mottley, outgoing CARICOM chair, had written to the US administration asking for reconsideration.
The Office of the United States Trade Representative (USTR), in response, had indicated its readiness to engage the region to address its concerns, he noted.
“However, at present, the USTR is prioritising negotiations with certain trading partners during the 90-day pause on the imposition of the 10 percent tariff,” Holness pointed out. “In the meantime, we need to become increasingly vigilant to seek to coordinate as much as possible at the regional level and with key development partners in order to minimise risks,” he contended.
Prime Minister Holness said that CARICOM finds itself operating in a global trading environment characterised by unilateralism, increasing tensions, rising trade policy and uncertainties with potentially severe effect on global economic stability. As such, the region needs to be strategic in building resilience to prepare for any eventualities, he said, emphasising the need for greater regional coordination and engagement.
The 26th meeting of the CARICOM prime ministerial sub-committee on external trade negotiations was held as part of the 49th regular meeting of the conference of heads of government of CARICOM, which is underway at the Montego Bay Convention Centre.
The first such gathering since April 2023 was attended by heads of government, the CARICOM secretary-general, and senior ministers. Against the backdrop of growing trade uncertainties, leaders discussed measures to diversify markets, strengthen regional supply chains, and leverage partnerships.
