Belize Government Consults Private Sector on U.S. Tariff Impact

The Belizean government held a crucial follow-up consultation on Tuesday to assess the impact of President Trump’s 10% reciprocal tariff policy on the country. 

A release says that the meeting built upon last week’s discussions at the Central Bank and brought together a wide range of businesses, from small enterprises to major exporters, alongside key industry associations.

The meeting was led by the Minister of Foreign Affairs, Foreign Trade, Culture and Immigration, Francis Fonseca, and Minister of State for Foreign Trade, Marconi Leal. The session addressed the challenges posed by the tariff on Belize’s export sectors. Participants expressed concerns over rising costs, disrupted trade, and competitive pressure, particularly due to shipping uncertainties.

While businesses showed a willingness to explore diversification strategies, they stressed the need for government support to lower domestic business costs.The issues will be taken to Cabinet. The government says it will engage with U.S. authorities to seek clarifications and possible exemptions.