Chairman of CARICOM and Jamaica’s Prime Minister Dr Andrew Holness has underscored the importance of engaging with the United States to restore preferential trade access while also strengthening ties with other global markets.

Dr. Holness was responding strategically to shifting global trade dynamics in light of recent US policy changes, including a ten per cent baseline tariff on CARICOM imports. 

He was addressing regional business leaders at a high-level engagement hosted by the CARICOM Private Sector Organisation and the Private Sector Organisation of Jamaica, this morning, under the theme strengthening caricom’s economic and trade resilience for growth and prosperity.

The Prime Minister called for a coordinated regional strategy to navigate these emerging challenges. 

Yesterday, the CARICOM Prime Ministerial Sub-committee on External Trade Negotiations met, to strategise a response to the ‘America First’ trade policy, which imposes a 10 per cent baseline tariff on CARICOM imports into the United States.

Dr. 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.

With the 90-day pause on the imposition of the 10 per cent tariff set to end tomorrow, July 9, caricom leaders are focused on mitigating any potential impact for regional exports to the US, which is their largest trading partner. 

Dr. Holness said Prime Minister of Barbados, Mia Mottley, who is the outgoing CARICOM Chair, had written to the US administration asking for reconsideration. 

The Office of the United States trade representative, in response, had indicated its readiness to engage the region to address its concerns.