Governor of the Central Bank Dr Kevin Greenidge is recommending several measures to counter any fallout from the United States’ (US) imposing a ten per cent tariff on Barbados.
His advice is to focus on diversification of economic activity, supply chain strengthening, sustainable energy initiatives, enhanced food security, tourism market flexibility, and economic monitoring and public awareness.
He made the suggestions in the new working paper Impact Of The 2025 US Global Tariff Hikes On Barbados, as he concluded that the tariffs “introduce non-trivial risks to Barbados’ near-term growth, inflation stability and fiscal sustainability”.
Greenidge noted that “several broad areas stand out as essential for Barbados to continue navigating external economic uncertainties successfully”.
On economic diversification, he said: “Continue the strong, ongoing efforts to diversify economic sectors and export markets, reducing vulnerability to external economic shocks.
“Opportunities in non-traditional markets and local value-added activities have been significantly emphasised and should continue to enhance overall economic resilience.”
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