3 weeks ago
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The Trinidad and Tobago Chamber of Industry and Commerce has issued a statement expressing “deep concern” over the increase in the tariff rate from 10 to 15 per cent for goods entering the United States.
The increase was done through an Executive Order issued by the White House on July 31, 2025 and covers a range of imports.
These new measures are scheduled to take effect this week, on August 7.
“This latest action represents a significant departure from the long-standing principles of the Caribbean Basin Initiative (CBI), which is a US policy framework designed to promote economic development and export-led growth in the Caribbean through preferential market access,” the Chamber said.
It added that Trinidad and Tobago, as a key beneficiary under the Caribbean Basin Economic Recovery Act (CBERA), has long relied on stable, preferential trade with the United States to bolster its manufacturing and export capacity.
“The TT Chamber urges the Government of Trinidad and Tobago, along with CARICOM counterparts, to urgently engage US counterparts to seek clarity and advocate for a review of the decision. This moment highlights the need to revisit and modernise the Caribbean Basin Initiative, ensuring that it remains fit for purpose in a changing geopolitical and trade environment,” the statement added.
Over 95 per cent of T&T’s exports to the US are comprised of a few key energy-related commodities.
English (US) ·