Belize Pushes Regional Action as U.S. Tariff Threatens Economy

Belize took centre stage at a high-level CARICOM consultation today, warning of the economic fallout from the United States’ newly announced 10% reciprocal tariff under its “America First” trade policy.

At the regional meeting, Director General of Foreign Trade Andy Sutherland presented Belize’s case, stating that over US$45 million in national exports, especially sugar, marine products, and pepper sauces, are at immediate risk. He stressed the potential impact on livelihoods, calling for urgent and united CARICOM action.

Belize proposed the creation of a Regional Emergency Competitiveness Fund, to be managed through the Caribbean Development Bank and national development banks. The fund would provide low-cost credit to help MSMEs and vulnerable sectors offset rising costs and navigate shifting trade dynamics.

The Government has also instructed its embassy in Washington to engage U.S. officials directly, seeking clarity, advocating for exemptions, and reaffirming Belize’s commitment to rules-based trade under the Caribbean Basin Initiative.

Belize underscored the need to protect the CARICOM Common External Tariff, speed up the CARICOM Single Market and Economy, and pursue new markets to build long-term resilience.

On Wednesday, President Donald Trump announced a 90-day pause on all “reciprocal” tariffs on over 70 countries, except those imposed on China.