The Barbados Employer’s Confederation (BEC) has been keeping an eye on the ongoing United States/ China tariff issue with Executive Director Sheena Mayers-Granville admitting there is still some uncertainty surrounding the topic.
She pointed out that there could be challenges for businesses on one hand but also opportunities to grow.
“It’s about being positioned to navigate the opportunities and threats as they present themselves,” she said.
She explained that if the tariffs create an environment where businesses start to have difficulty, that would impact persons who are carrying out the daily function of the business, but there may be potential opportunities for business growth coming out of it since persons may need to relook traditional trading partners.
Mayers-Granville was speaking to reporters on Monday at BEC’s Braemar Court, Deighton Road, Brittons Hill, St Michael, during a press conference on BEC Week 2025.
Exemption
A few weeks ago, it was reported that CARICOM member states successfully negotiated an exemption
from newly proposed US tariffs that threatened to disrupt vital shipping routes and drive up the cost of living across the Caribbean.
The breakthrough came after weeks of lobbying by regional governments, the private sector and shipping companies, after the Donald Trump administration said it would impose multimilliondollar port fees on vessels made in China. Those types of vessels are common throughout the Caribbean.
Prime Minister Mia Amor Mottley, who is also the chair of CARICOM, confirmed that the US Trade Representative (USTR) exempted the region from the tariffs. Since then, there have been talks that the US and China agreed to slash tariffs.
Mayers-Granville said although they were quiet on the issue, their partners with the Barbados Chamber of Commerce and Industry have been on top of the situation.
She, however, said they wanted to be well informed on the issue before commenting publicly. ( TG)
