The Ministry of Foreign Affairs has announced that officials are quickly analyzing the situation and will consult with relevant stakeholders to protect Belize’s economic interests. In recent years, Belize’s top exports to the U.S. have been sugar and fisheries products. A swift response is crucial, whether through direct talks with U.S. officials or a coordinated effort with CARICOM. How will this impact our local economy? We spoke with Economic Consultant, Doctor Leroy Almendarez, to get his perspective on this latest development. Here’s what he had to say.
Leroy Almendarez
Dr. Leroy Almendarez, Economic Consultant
“In essence, every country that is applying a tariff to American products we are now applying a tariff to each one of those countries. I must immediately say that countries can do that. It goes way back to the history regarding trade. Even Germany tried it for infant industries to survive. In this case what they are saying is my manufacturers and those people who do business in America, if I make the cost of goods coming into the country a little bit more expensive, trying to apply these rebalancing tariffs, or tariffs, then it simply means they will be able to survive. The only way that really happens is if I can provide everything I need, the inputs etc. When I looked at it, and honestly, I left because I watched it and said, is Belize being tariffed, because I didn’t see it. Then I went back, and I looked at the countries and saw the application of the ten percent. I also noticed reciprocally Belize applies ten percent as well. So, this was a direct reciprocity, one for one, because it could have been less than third percent.”
Doctor Almendarez warns that the ten percent tariff imposed by the Trump administration could hurt jobs. However, he sees a silver lining: it opens up opportunities to explore new markets beyond the U.S., such as increasing trade with CARICOM and the European Union. Here’s how he explains it.
Leroy Almendarez
Dr. Leroy Almendarez, Economic Consultant
“The immediate reaction would be, then what happens to us in terms of consumption. What about our products going into the United States, because if that ten percent applies then it actually makes our products more expensive for consumption in the U.S. So those who normally consume our sugar, molasses, our seafood, our wood products might start to look for substitutes. In other words, we might have lost our competitiveness, which means a loss of revenues. To produce those things means employment. So, we might end up with a situation that can reduce employment. And just looking at February 2025, we exported twenty-three point three million but imported over two hundred million. Exports went up and import when down. But what was significant is that most of our exports went to CARICOM. And under the Treaty of Chaguaramas there is the free movement of goods. So therefore if we can export more into CARICOM then it means our goods will not attract those kinds of tariffs, the UK was second, the EU was third, very good trading partners.”
Regarding the government’s response to the Trump administration’s new tariff, Doctor Almendarez says several factors need to be considered. For instance, is the tariff effective immediately? And how willing is President Trump to discuss suspending it? Doctor Almendarez suggests that the government should approach this dialogue with its CARICOM partners rather than going it alone.
Dr. Leroy Almendarez, Economic Consultant
“I am not sure we were forewarned the tariffs would come, but I think we all knew that the president, it is a word he uses very often. He believes tariffs is a way of balancing the world. Now that it has been applied, the question is what its immediacy is. Is it being applied already? Goods leaving tomorrow will be impacted by that. I believe there is a need for engagement with the United States. The U.S. trade representative is the person who engages in dialogue for those persons that benefit through the Caribbean Basin Trade Partnership Agreement and to request consideration that our products that enters the U.S. market continues to benefit through the duty tariff exemptions from our products that go in the U.S. As I indicated, even though it exists it is the president that can decide to vary that. I heard him say this morning that he is open to dialogue, because sometimes the imposition of these tariffs is really to see how the company will react.”
The Boledo and Sunday Lottery Draw are moving from Belize City to Belmopan. Despite assurances that protocols will be followed, some people are unhappy about the change. Narda Garcia, C.E.O. in the Office of the Prime Minister, reassures that the same protocols will be maintained, and Belmopan residents can watch the draw in person. She explained that the move is to ensure the games are in a safe location, away from Belize City’s hurricane and flood risks. Garcia also shared details about the profits from Boledo in 2024.
Narda Garcia
Narda Garcia, Chair, Lotteries Commission
“For practical purposes, because the main office is in Belmopan and for looking at the issues that we have with climate change and hurricanes and having to move, so we said, let us take it to Belmopan. However, we have two machines, and we maintain them every year. We have people to come and calibrate and to audit the machines. So, we don’t foresee a problem. Change is always something that people reject and some people will not accept. We will make it available for the public to view it in Belmopan, of course, but Marion, it is a myth. People no longer go out to view the drawings; people view it live. That has changed so much. I mean, you can go now and see what happens on a Sunday, when it’s the biggest draw, the jackpot and the Sunday lottery, right, and the Boledo, nobody goes out”
Gales Point now enjoys a new preschool, an upgraded primary school, and a fully paved Coastal Plains Highway for easy access. However, for the past few weeks, villagers have had to rely on others with vehicles for rides since the bus service stopped. Area Representative for Belize Rural Central, Dolores Balderamos-Garcia, assures that this issue is being urgently addressed.
Dolores Balderamos-Garcia, Area Representative, Belize Rural Central
“I don’t have all the details, but I do know that with the completion of the Coastal Plain Highway, the village is more accessible and it will be more accessible for people to go out to Stann Creek, to Dangriga and also to Belize City much easier. I don’t know what has actually happened, but a bus run did start. So I’m going to be looking into the continuation of it for the good of the people, you know. But, but please, thank you for the reminder on that one.”
Marion Ali
“Can you say how soon because they’ve expressed a little bit of impatience, in fact, that every week, students have to come and go from Dangriga.”
Dolores Balderamos-Garcia
“I have scheduled a meeting with Minister Zabaneh, the new Minister of Transport, and I will be meeting with him and top on the agenda will be a discussion of this. So I think within the next two weeks we should sort it out.”
After a strong re-election win in Belize Rural Central on March 12th, many were surprised when Dolores Balderamos-Garcia didn’t retain her role as Minister of Human Development, Families, and Indigenous People’s Affairs. In fact, she didn’t receive any ministerial portfolio. However, Garcia told News Five that she’s very happy with her new role as Senior Minister of State in the Office of the Prime Minister and doesn’t see it as a demotion.
Dolores Balderamos-Garcia
Dolores Balderamos-Garcia, Area Representative, Belize Rural Central
“No, not at all. Not at all. Not at all, Marion, the Prime Minister had a very difficult balancing act to perform, and I am actually very happy that I have been put in a different role – a senior role – because I don’t want the song boassy or anything, but if you notice, I have had many, many firsts and I believe I’m the first Senior Minister of State in the Prime Minister’s office, and I can assist to define my role. I have said to the Prime Minister that I’m particularly interested in elder affairs. I know in Barbados they actually have a ministry and a portfolio of elder affairs, and so although there’s no actual portfolio for that, I will be lending my support to Pastor Catalina Arthurs and Miss Ichel Pott and Ms. Sandra Hall and them who have been really spearheading the attention not only to policy, but also to the actual wellbeing and welfare of our senior citizens. And in addition to that, I’m still passionate about HIV and AIDS. I am still passionate about our women’s affairs. I have said that I will offer all my help and experience to Minister Thea, to Minister Louis Zabaneh. I will be here to assist Special Envoy for the development of families and children. So I’m actually happy, and you know what, I believe I’ll be able to spend more time, giving more time to my constituency.”
The Protected Areas Conservation Trust, Ministry of Agriculture, Food Security and Enterprise, BELTRAIDE, the Inter-American Institute for Cooperation on Agriculture (IICA), and the Department of Cooperatives have teamed up to launch an important initiative to empower Belizean communities. The third part of the Sustainable Livelihood Project offers tools, training, and support to help create nature-based businesses and build resilience against climate threats like droughts, floods, and wildfires.
Abil Castaneda
Abil Castaneda, Executive Director, PACT
“Addressing climate change is not just now building infrastructure. Addressing climate change is not just about building awareness. It really has to do with changing behavior, it has to do now in how do we seek ways in which we can build economic resilience for the people that are mostly impacted by climate change. And so, yesterday, PM Briceno made a call and a call for urgency because we are seeing it more and more today that our lives are changing. What the new norm is becoming, we have to acknowledge it, we have to appreciate it, but we also have to act urgently to address it because it will impact us. We are having longer droughts, we are having heavier flood events. We are now having more instances of forest fires and all of these things can impact us, but for the cause of today, they impact, in reality, our food security and I think we, many times, outside of the realm of the agricultural sector, don’t realize how critical and vulnerable that is to ensure that our country and our people have food for the future.”
BELTRAIDE has received nearly eight hundred thousand dollars to help five community groups with business development training, technical support, and market access for sustainable projects. By backing local entrepreneurs, especially women and youth, this initiative boosts Belize’s commitment to climate resilience, economic empowerment, and sustainable development.
Jorge Gentle, Acting Manager, SBDC
“The sector has faced its own challenges, looking at the ever-changing climate change. Also looking at fluctuating commodity prices and also access to modern farming technologies. In recent years, more frequently droughts, unpredicted rainfall and also rising production costs that have strained farmers and agrobusinesses. Additionally, small farmers often struggle in securing access to finance which we are glad that this project also has a component that aims to provide access to finance, access to markets and integrating into the value chain. Despite these challenges, there are opportunities for innovation, improved sustainability and market expansion that can help to strengthen the sector and drive long-term success. Again, we received a very detailed description of the components of the project which Dr. Williams was able to share. Again, it doesn’t only as… I’ve had the opportunity of sharing many of the projects that BELTRAIDE has collaborated with stakeholders in the past as good practices within the region and, again, I’m glad that this project also is not one that just provides training, not just one that provides finance, but it is a very holistic approach where it looks at hand-holding throughout the phase of developing, again, looking at climate resilient enterprises.”
The Caribbean Development Bank is currently reviewing its projects in Belize, focusing on key development and financial strategies. Major infrastructure projects like the Coastal Highway Project, Philip Goldson Highway, and the Eighth Road Project are under examination, with presentations from the Ministry of Infrastructure Development and Housing. Dr. Martin Baptiste, an official from the Caribbean Development Bank, is in the country to review the bank’s portfolio and discuss ways to improve processes with the government. He provided detailed insights into these areas.
Dr. Martin Baptiste, Chief, Social Sector Division, C.D.B.
“We came to discuss with our colleagues here, Ministry of Economic Transformation, Ministry of Finance, Ministry of Education and Technology and all of our partners to discuss how the projects are progressing to look at the status of each and to co-create and to discuss solutions so that we can improve the implementation rate so that in the end, the portfolio that we have here in Belize would continue to be a high performing portfolio so that the development outcomes that we want for each of them can be realized in a timely manner.”
Marion Ali
“What have you found so far?”
Dr. Martin Baptiste
“Well, Belize is one of the countries where we do significant work and the work that we have been doing over the years is progressing quite well. And so we were able to identify where there are successes. We are able to identify any success factors and lessons learned. And so we identify some of the areas where we will continue to engage with our partners here to make sure that the projects and programs that we’re implementing can continue to be done in a way that would realize the outcomes which the Government of Belize has for this country as well as our work as a development partner.”
Marion Ali
“Can you share maybe a couple of the successes that you spoke of or areas where we have strengths and weaknesses as well?”
Dr. Martin Baptiste
“Well, we have very good implementation units here in Belize and so in terms of the procurement, contract management, looking at supervising the work that is to be done, there are very good stories here and we encourage that that kind of engagement will continue to be expanded so that across all of the projects and programs, we can continue to have a very excellent relationship and deliver on the projects that have been approved and are under implementation.”
Marion Ali
“And we need help in what areas?”
Dr. Martin Baptiste
“Well, certainly, across the region, one of the areas that we continue to support countries is in the area of procurement. It’s one of the areas where the countries are building out the procurement systems, so that we can have timely engagement of consultants, suppliers, and contractors. And in doing so, you’re able to maintain the implementation period so that you don’t have too many delays. And so when a project is approved and you are promising the impact to the beneficiaries within a timeframe, you’re able to deliver on those outputs in a timely manner. Contract management is a really important matter, and of course it is something that across the region we are working with our countries and our partners to continue developing.”
A hundred years in business is no easy feat to accomplish, but that is just what James Brodie and Company Limited has been able to do. In fact, in twelve years, the company will celebrate one hundred and fifty-years in business. Over the last century, the company has changed leadership from its original Scottish owner to at least four others. Today, Edward “Billy” Musa sits at its helm, and he is preparing to make his exit in due course to make way for a new generation. In tonight’s installment of Belize on Reel, News Five’s Paul Lopez takes a closer look at storied history of one of Belize’s longest standing companies.
Paul Lopez, Reporting
In twelve years, James Brodie and Company Limited will celebrate one hundred and fifty years in business. The company was founded in 1887 by James Brodie, a Scotsman who arrived in British Honduras in 1872, hoping to make his mark in Britain’s newest Crown Colony. Today, the company is led by Chairman and Managing Director, Edward ‘Billy’ Musa Senior.
Edward “Billy” Musa
Edward “Billy” Musa, Chairman, James Brodies and Co. Ltd.
“Brodies advertised for an office manager. I applied and I got the job, and I was hired in nineteen sixty-four.”
Covering the company’s hundred-and-thirty-eight-year history would take a book with hundreds of pages. But there are some key moments worth highlighting. For instance, the original store was where the Downtown Plaza now stands on Albert Street. James Brodie bought that Albert Street location thirty years after opening, from Hofius and Hildebrandt.
Edward “Billy” Musa
“It goes way back to 1872 when a young man from Scotland came to Belize to seek its riches. From then the company has grown and changed shareholders. From that date it has changed about four controlling shareholders. This gentleman was not a social guy. Whenever he left work he would go to his home across from Saint John’s Cathedral and stay there for the rest of his day or night. He was not sociable and that is why they called that home “The Retreat”.”
In 1915, knowing his time was running out, the elderly Scotsman turned James Brodie into a limited company, allowing shareholders to come on board. The cover of the ‘100 Years of Brodies in Belize’ magazine, published for its centennial in 1987, shows Barry Bowen leading the company. The magazine featured congratulatory letters from then Prime Minister Manuel Esquivel, Father of the Nation George Price, and then Permanent Secretary in the Ministry of Commerce Cresencio Sosa. It also included congratulations from partner companies like General Mills, Kiwi, Canon, and General Foods. The first page even had an ad for Rolex watches.
Edward “Billy” Musa
“During that time we had many good companies, representing many good companies. Rolex was one of them, but not the ordinary man can by a Rolex. When tourist came they would by it, but over the years the business just dwindled. There are many items we had to get out of because of competition in Belize and across form Chetumal. But our main core, business is food, dry goods, agro-chemical, veterinary products and of course drugstores, medicines.”
Interestingly, in the early 1970s, there was a time when David Estephan, the former majority shareholder, thought about selling his shares to Santiago Castillo Limited. That’s when Musa, who was the board secretary back then, stepped up and took action.
Edward “Billy” Musa
“So I went to him and said Don David, why not give me a chance to see if I canraise the funds and buy the shares. He said, I will give you one month. Duringthat one month, I spoke to Barry Bowen and we were able to come up with themoney he wanted and that is how Bowen got involved with myself.”
Musa later bought Bowen’s shares and became the major shareholder. Under his leadership, James Brodie and Company Limited has flourished. Brodie’s International Corporation was set up in the Corozal Freezone, and Brodie’s Superstore opened on the Phillip Goldson Highway. The Albert Street location expanded to include a pharmacy and deli, with a department store across the street. Belmopan now boasts an expanded branch, and a new agro and veterinary outlet is in the works. At the heart of this century-old business are its dedicated staff members. Brodie’s employs over four hundred people across all its locations.
Edward “Billy” Musa
“The staff, we give them loans for health, education, and we give scholarships to members of the staff, for their children. So they are happy with us. The managers and supervisors have health insurance free. We don’t give it to the regular staff, because the turnover is so fast. We have a problem because everybody wants to go to the call centers.”
However, today’s business world brings new challenges. Call centers are offering higher salaries, and competing stores are providing alternative products at very competitive prices.
Edward “Billy” Musa
“We strive on excellence when it comes to quality. We believe in quality and in today’s business world, many people are not looking for quality but pricing. That is affecting us a lot now.”
Paul Lopez
“What does the future of this company look like?”
Edward “Billy” Musa
“I think it has another hundred years, with my boys taking over.”
