Exporters to the U.S. Prepare for Economic Decline Amid New Tariffs

Belizean exporters are bracing for serious economic impacts following the Trump administration’s decision to impose a 10% reciprocal tariff on goods from Belize, set to take effect on April 5th.

In response, the Government of Belize convened a high-level meeting and promised to “use all available political and diplomatic channels” to address the situation.

The new policy has rattled private sector stakeholders, particularly companies like Marie Sharp’s Fine Foods Limited, which has been exporting duty-free to the U.S. since 1989. Jody Williams, the company’s Chief Sales and Marketing Director, called it “a big slap to Belize, to our developing nation,” and expressed deep concern about how the added cost will affect pricing and sales, noting, “more than likely, this will slow down sales, slow down momentum, and less foreign exchange coming into the country.”

He added that their importers in the U.S. are equally unprepared: “They say let us have a meeting, we can’t take on the ten percent… let us do fifty, fifty.”