As countries brace for the United States to finalise its stance on global tariffs, the British Virgin Islands is exploring alternative trading partners that could help reduce the cost of imports into the territory.
The US continues to revise its tariff policies, but supply chain disruptions are already being felt globally, stemming from the Trump administration’s hardline approach to international trade.
Junior Minister for Financial Services, Trade and Economic Development, Lorna Smith, said the BVI is considering several regional alternatives, including the Dominican Republic, St. Martin, and countries in Latin America.
“Our objective is to find an alternative supply chain that can provide food and supplies that are affordable. We are looking at Dominican Republic, St. Martin and countries in Latin America — places like Mexico and Panama — for shipping and purchasing goods,” Minister Smith explained.
Local suppliers have warned that the public will feel the effects of the US tariff policy, even if the Trump administration opts to reduce global fees.
However, significant price increases are likely to be met with resistance from the public, amid longstanding concerns about price gouging and stagnant wages across the territory.
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