BY NAN Business Editor

News Americas, WASHINGTON, D.C., Fri. Aug. 1, 2025: Trump tariffs are back – and this time, two Caribbean nations are feeling the heat.
U.S. President Donald Trump announced new 15% tariffs on goods from Guyana and Trinidad and Tobago as part of his escalating trade offensive targeting dozens of countries. The move has sent shockwaves through the region’s manufacturing and export sectors, particularly among businesses already struggling with supply chain costs and market uncertainty.

In a sweeping move that caught many small economies off-guard, the Trump administration on Thursday re-imposed tariffs on goods from over 70 countries, including Guyana and Trinidad and Tobago, as part of a renewed effort to close America’s trade deficit. Effective immediately, both Caribbean Community (CARICOM) countries will face a 15% reciprocal tariff on their exports to the U.S.

FLASHBACK – U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC. Touting the event as “Liberation Day”, Trump is expected to announce additional tariffs targeting goods imported to the U.S. (Photo by Chip Somodevilla/Getty Images)

The new tariffs come just weeks after a temporary 90-day reprieve on harsher duties, including a previously proposed 38% rate on Guyana, which had sparked diplomatic backlash. While the rollback to 15% softens the blow, the impact remains severe – particularly for niche exporters in Guyana’s timber and manufacturing sectors and Trinidad’s energy and petrochemical producers.

“This is going to have devastating effects on us,” Howard Bulkan, a Guyanese exporter who sells over 60% of his company’s wallaba roof shingles to U.S. buyers told Demerara Waves. “We’ve been absorbing the 10% tariff since earlier this year. A 15% rate is not sustainable. We’ll now have to consider shifting to European markets.”

A Blow To Value-Added Exports

For Guyana, the tariff hike comes at a precarious time. While the country is experiencing rapid GDP growth driven by offshore oil production, its non-oil sectors have been working to diversify and expand exports of value-added goods like wood products, furniture, and agro-processing.

Industry leaders say the U.S. tariffs threaten to undercut those efforts. “That’s going to hurt,” said Ramsey Ali, President of the Guyana Manufacturing and Services Association (GMSA) told Demerara Waves. “We’ll be meeting to assess the fallout, but this clearly impacts competitiveness.”

The U.S. had long been a zero-duty market for many of these products. With freight costs and logistics already straining Caribbean exporters, the added 15% tariff could result in a compounded cost increase of 20–25%, potentially pricing them out of the market.

In Trinidad and Tobago, where petrochemicals, ammonia, and manufactured goods make up the bulk of exports to the U.S., the new tariff could raise costs across supply chains – affecting trade with U.S.-based industrial and construction sectors.

Political Optics vs. Trade Realities

Trump’s move – just a day before his August 1 deadline for trade deal renegotiations – is being billed by the administration as a “reciprocal tariff adjustment.” But critics say it disproportionately harms smaller economies with limited trade leverage and minimal market intrusion.

“The tariff math makes no sense,” said Bulkan. “We’re being penalized for oil exports, even though our wood products aren’t competing with U.S. goods.”

Guyana Vice President Bharrat Jagdeo confirmed ongoing talks with the U.S. Trade Representative, saying Guyana remains hopeful that the duty could be lowered to 10% through bilateral negotiations.

“We’re happy it’s not 38% anymore,” Jagdeo told Demerara Waves. “But we are still working to bring it down further.”

Risk of Market Realignment

The longer-term risk, analysts say, is that Caribbean exporters may permanently pivot away from U.S. markets – opening the door for China, Europe, or South American buyers to step in.

Several GMSA members are already eyeing European buyers as a fallback. But switching markets isn’t simple – it requires new certifications, trade relationships, and logistics chains that many small and mid-sized exporters are ill-equipped to build quickly.

For now, the region’s manufacturers are scrambling to recalculate costs, renegotiate contracts, and brace for a rocky export season.

By Dr. Isaac Newton

News Americas, NEW YORK, NY, Mon. July 14, 2025: With President Donald J. Trump back in office, his administration has begun re-imposing and expanding tariffs on key imports. Among the most affected are Caribbean economies, which depend heavily on exports to the United States. Jamaica, for instance, has reported a sharp rise in trade costs, with aluminum and bauxite exports now facing up to 17 percent in additional duties. Exporters throughout the region are also confronting increased shipping fees, higher insurance premiums, and longer customs processing times. This is not merely an economic inconvenience. It is a wake-up call. The Caribbean must decide: will we passively endure another cycle of dependency, or will we courageously redesign our economic future?

FLASHBACK: US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled “Make America Wealthy Again” at the White House in Washington, DC, on April 2, 2025. (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)

The global economy is evolving rapidly. Leadership must now be shaped by global awareness, technological readiness, and strategic foresight. According to the Caribbean Export Development Agency, trade between CARICOM and African nations still accounts for less than four percent of total external trade. This is despite Africa’s population now surpassing 1.46 billion people and witnessing strong gross domestic product (GDP) growth in countries such as Rwanda, Ghana, and Kenya. GDP, which measures the total value of goods and services produced in a country, is a vital indicator of economic opportunity, and Africa is surging.

Some Caribbean nations have started to tap into this potential. Trinidad and Ghana are in formal discussions around energy cooperation. Jamaica, with its global cultural influence, is well-positioned to expand intellectual property partnerships and digital service exports with nations such as Nigeria and South Africa. Barbados is forging climate and finance partnerships with Kenya and Namibia, focused on renewable energy and sustainable development.

This is the moment to finalize trade agreements with the African Continental Free Trade Area, (AfCFTA), the world’s largest single market comprising 54 countries. The Caribbean must also accelerate engagement with MERCOSUR, the Southern Common Market comprising Argentina, Brazil, Paraguay, and Uruguay, and deepen economic ties with the Association of Southeast Asian Nations, (ASEAN), which represents over 600 million people and some of the world’s fastest-growing economies. By doing so, the region can redefine itself as a strategic trade bridge connecting the Americas, Africa, and Asia.

Yet, transformation begins at home. Micro, small, and medium-sized enterprises, (MSMEs) employ more than 70 percent of the Caribbean workforce, yet receive less than 11 percent of total private-sector credit, according to the Caribbean Development Bank’s 2024 report. This financing gap stifles innovation, job creation, and inclusive growth. Guyana’s agro-processing sector, Haiti’s artisan cooperatives, and Saint Vincent’s organic farming initiatives all have untapped potential. To unlock it, CARICOM governments must unite to create a regional development finance institution capable of pooling public and private capital. Targeted funding must be paired with business development services, digital training programs, and simplified tax and regulatory frameworks for emerging enterprises.

We already see proof of progress. In Jamaica, the Lynk digital wallet has registered over 500,000 users since its 2022 launch. It empowers small businesses to receive instant payments and operate without reliance on cash. In Barbados, the Blue Economy Innovation Hub, supported by the Inter-American Development Bank, is nurturing startups focused on marine biotechnology, sustainable tourism, and fisheries. These examples underscore what is possible when public policy aligns with innovation and community priorities.

The region’s infrastructure, however, must catch up. According to the 2025 Caribbean Maritime and Logistics Survey, fewer than 55 percent of CARICOM’s customs and port systems are fully digitalized. The result: excessive paperwork, delays, and inflated logistics costs. Shipping goods from Trinidad to Dominica can take over four days due to manual clearance processes. In contrast, ports in Singapore, the Netherlands, and South Korea process cargo in under 24 hours using streamlined digital systems. The Caribbean must adopt modern e-customs platforms, blockchain-backed export tracking, and harmonized regional standards for trade documentation. This is essential for faster trade, greater transparency, and increased competitiveness.

Even in the region’s most challenging contexts, innovation is taking root. In Haiti, solar-powered cooperatives are supporting rural digital hubs and agricultural startups in regions such as Plateau Central and Artibonite. These centers offer online education, mobile banking, and small business development, all sustained by renewable energy. This proves that, with visionary leadership and strong partnerships, progress is possible even in adversity.

For more than three decades, I have worked alongside governments, faith-based institutions, and international partners across Africa, the Caribbean, and Latin America to reform public institutions and design high-performance systems. Whether advising Liberia’s transitional government, crafting youth empowerment strategies in Antigua and Barbuda, building conflict resolution tools in Saint Lucia, developing change management models in Jamaica, or leading political campaign strategies across the region, or lecturing at our universities on reimagining the future, or preaching and teaching in our faith-based institutions on policy transformation, my mission has remained constant: leadership must serve people and produce systems that endure.

The Caribbean’s moment is now. Tariffs may bruise our trade, but outdated thinking poses a far greater threat. Let us not respond with fear, but with fresh vision. Let us trade not only goods, but creativity, services, and ideas. Let us lead not by clinging to the past, but by preparing our people for the future we are destined to shape.

EDITOR’S NOTE: Dr. Isaac Newton is a Harvard, Princeton, and Columbia-trained expert in change management, public sector reform, and international development. Advisor to governments, faith institutions, and multilateral organizations. Author and keynote speaker on governance, strategy, and leadership for the Global South.

By News Americas Business Editor

News Americas, PARAMARIBO, Suriname, Weds. July 9, 2025: The American energy company Hess Corporation has quietly ended its pursuit of oil exploration in Block 59, a deepwater offshore area in Suriname, after failing to secure drilling partners and determining the project carried excessive risk.

The withdrawal was confirmed by Suriname’s state-owned oil firm, Staatsolie, which said Hess had fulfilled its minimum exploration requirements and opted not to advance to the next phase of its contract. The move effectively relinquishes Block 59, a high-potential but technically challenging zone spanning 11,480 square kilometers in ultra-deep waters.

“Hess has fulfilled its minimum work obligations and decided not to proceed to the next phase of the exploration period ending July 8, 2025,” Staatsolie said in a statement. The block will now be reopened for bidding by new companies.

The retreat comes after ExxonMobil and Equinor (formerly Statoil), original partners in the 2017 Production Sharing Contract, transferred their stakes to Hess last year—leaving the U.S. firm as the sole stakeholder in Block 59.

Despite collecting 6,000 kilometers of 2D seismic data and another 9,000 square kilometers of 3D data, the partners deemed the prospect of drilling an exploration well too risky—a sobering reminder of the technical and financial challenges facing frontier oil plays.

Efforts by Hess to attract new partners throughout the past year were unsuccessful, further underscoring industry caution about offshore Suriname’s unexplored zones.

While the relinquishment marks a setback in Suriname’s ambition to become a major offshore oil player—especially following discoveries in adjacent Guyanese waters – Hess continues to maintain a stake in Block 42, which lies immediately to the south of Block 59.

Staatsolie noted that voluntary withdrawals are common in the energy sector and reflect the exploratory nature of early-stage offshore licensing.

The news adds a sobering note to Suriname’s recent oil narrative, as industry eyes now turn to the country’s more promising southern blocks—and whether next-generation seismic analysis or strategic partnerships will reignite exploration activity.