Caribbean business executives are carefully scrutinising the new realities of US trade policies under President Donald Trump, as rising tariffs and changing bilateral agreements begin to reshape the region’s economic environment. During the closing session of the 2025 Jamaica Stock Exchange Regional Conference, several corporate leaders examined the ripple effects of US measures on key sectors and discussed strategies for sustaining growth.
Inflation Fears and the Call for Regional Cooperation
For Audrey Tugwell Henry, President and CEO of Scotiabank Jamaica, the Caribbean’s reliance on imports continues to make it especially vulnerable. She pointed out that if the US Government imposes high tariffs—whether through the recently enacted United States-Mexico-Canada Agreement (USMCA) or other aggressive trade policies—prices in Caribbean markets could surge.
“Tariff-driven inflation could hit our region hard,” she said, alluding to the Caribbean’s dependence on imported goods. “It’s a serious concern we need to anticipate and manage.”
Tugwell Henry offered regional trade partnerships as a viable response. In her view, closer coordination among Caribbean Community (Caricom) countries and new trade channels with Latin America could help cushion the potential fallout from US protectionism.
“We can’t isolate ourselves from global shifts,” she noted. “But we can work more cohesively as a region, broaden our networks, and diversify who we do business with.”
Balancing Optimism with Realism in Trinidad and Beyond
Speaking on a subsequent panel, James McLetchie, Deputy CEO of the Trinidad-based Massy Group, focused on how US sanctions on countries like Venezuela could upend supply chains. Although his organisation has a wide presence across the Caribbean, he cautioned that every island would have to adapt quickly if cross-border trade disruptions worsen.
“Venezuela’s economic situation, combined with US sanctions, has already changed how we source certain products,” McLetchie said. “The world is moving rapidly, and we must keep an optimistic but prepared outlook.”
Trinidad and Tobago’s energy sector could also face indirect complications if US foreign policy influences global oil markets. Despite these challenges, McLetchie believes the region’s longstanding trading networks can help mitigate some of the potential shocks.
Tourism Shines as a Possible Bright Spot
Robert Almeida, CEO of NCB Financial Group, pointed out that not every sector is at risk from US tariffs. Tourism, he argued, has remained resilient, with American travellers eager to explore Caribbean destinations. This upswing in visitor arrivals could offset the negative effects of broader trade tensions.
“As the largest export for many Caribbean economies, tourism remains outside the sphere of tariffs,” said Almeida. “With the US economy still expanding, we’re seeing a rise in holiday bookings—something we can leverage for economic gain.”
Almeida also highlighted that President Trump’s interest in lowering energy costs, whether through traditional fuels or newer technologies, might present an opportunity for Caribbean nations seeking more affordable power solutions.
“As energy prices stabilise or even drop, countries importing fuel could see a noticeable boost in cost savings,” he explained. “That opens the door for better infrastructure investment and stronger overall growth.”
Environmental Priorities and ESG Standards
While some US policies may indirectly benefit the region, Ivan Anderson, Managing Director at TransJamaican Highways Ltd, underscored the importance of remaining committed to environmental and social governance (ESG) standards. The Trump Administration’s decision to withdraw from the Paris Agreement has made some lenders and rating agencies reassess long-term risk assessments in developing regions.
“ESG compliance isn’t just about meeting guidelines; it can affect how easily Caribbean firms access capital,” said Anderson. “We’re continuing our push for greener highways and renewable energy projects because it benefits both our financials and our communities.”
His sentiment reflects a growing apprehension in Caribbean countries such as Barbados, Antigua and Barbuda, and St Lucia, where climate resilience projects often rely on international funding. Concerns are mounting that less global support for environmental commitments could slow key initiatives.
Charting the Way Forward
Despite the uncertainties, none of the speakers portrayed the future as entirely bleak. The overarching message was that the Caribbean must strengthen internal ties, diversify its trading partners, and recognise emerging opportunities—even as US policies evolve in unexpected ways.
“We have to be forward-thinking,” concluded Tugwell Henry. “The world is always changing, and so must we. By working together, we can navigate these challenges and come out stronger on the other side.”
From travel and energy to agriculture and finance, the Caribbean’s response to President Trump’s policy agenda seems to hinge on resilience, regional unity, and strategic planning. As the global economic landscape continues to shift, business leaders across the islands appear determined to chart a path that safeguards their growth and prosperity—regardless of what happens in Washington.
