JAMAICA | CARICOM Urged to Strengthen Trade Strategies

MONTEGO BAY, Jamaica July 9, 2025 - JIS - Chief Executive Officer and Technical Director of the Caribbean Community (CARICOM) Private Sector Organization (CPSO), Dr. Patrick Antoine, has proposed addressing trade inefficiencies as a key strategy to mitigate the potential impact of the impending 10 per cent baseline tariff on regional exports to the United States (US).

Speaking during a Business Breakfast Forum in Montego Bay on Tuesday (July 8), Dr. Antoine noted that CARICOM is facing a potential fallout of approximately US$542.3 million per annum consequent on proposed implementation of the baseline tariff, according to a CPSO study conducted across Caribbean nations.

“There are instances where our inefficiency from trade facilitation, inefficiency at ports, et cetera, account for nearly 10 per cent of the export value of some of our products in some of the countries. So again, if we were to drive down the inefficiencies, we could, in fact, overcompensate for the loss,” he opined.

Dr. Antoine noted that by addressing trade inefficiencies, the Caribbean could unlock substantial cost savings across key sectors.

“So, all we’re saying in the context of all of this is to look at logistics and connectivity. We need to look at the impact on the negotiations that we have, because about 70 per cent of the goods that we export are not consumed in the community,” the CPSO Head maintained.

Chairman of the CARICOM Private Sector Organization (CPSO), Gervase Warner speaks at a Business Breakfast Forum at the Sandals Montego Bay Hotel in St. James on Tuesday (July 8).

“We have to think about how we approach the United States for negotiation… that has them recognise us in a different strategic line,” he further advised.

Mr. Warner emphasised that CARICOM nations must look beyond short-term relief from US trade policies and actively pursue strategic partnerships that strengthen the region’s long-term economic resilience and global competitiveness.

It was announced on Monday (July 7) that the 90-day suspension of the 10 per cent tariff has been extended from July 9 to August 1.

The Forum was hosted by the CPSO and the Private Sector Organisation of Jamaica (PSOJ) at the Sandals Montego Bay Hotel in St. James.

It formed part of the 49th Regular Meeting of the Conference of Heads of Government of CARICOM in Montego Bay from July 6 to 8.

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