A newly formed task force has begun assessing the impact of recent US trade policy changes on Saint Lucia’s economy, with a focus on mitigating potential challenges and safeguarding key industries.
The Ministerial Task Force to Monitor and Evaluate the Impact of Changes in the United States Trade Policy on Goods held its first meeting on Tuesday and will meet biweekly, bringing together representatives from the public and private sectors to analyse trade disruptions and provide strategic guidance.
Its primary goal is to evaluate the potential impact of US President Donald Trump’s newly announced trade policy changes—specifically, a 25 per cent tariff on imports from Mexico and Canada and a 10 per cent tariff on imports from China. The task force will provide recommendations to the Cabinet and the private sector on strategies to minimise any negative effects and capitalise on potential opportunities arising from these changes.
“The strength of this task force lies in its broad representation from both the public and private sectors. Each agency and organisation has a critical role in ensuring a comprehensive assessment of the impact of these tariffs,” Commerce Minister Emma Hippolyte, who leads the task force, said at the first meeting in her ministry’s conference room on Tuesday.
Stressing the need for informed action, she added: “We are not here to speculate. We are here to analyse, strategise, and act. Our goal is to protect our consumers and local businesses, ensure economic resilience, and position Saint Lucia to navigate these changes effectively.”
Key concerns under review include the rising costs of imported raw materials, which could drive up production expenses for local manufacturers; the competitiveness of Saint Lucian agricultural exports, as higher trade barriers could hinder market access; and the pricing and availability of goods, which may be disrupted by supply chain instability.
“If the cost of imported raw materials rises, our local manufacturers would face higher production costs, a burden which will likely be passed on to consumers. If agricultural exports become less competitive, our farmers could struggle to maintain market access,” explained Hippolyte.
To ensure a comprehensive response, the task force includes representatives from the Ministries of Commerce, Agriculture, Health, and External Affairs; the Customs and Excise Department; the Department of Finance; labour; Export Saint Lucia; the Saint Lucia Chamber of Commerce; and the Saint Lucia Manufacturers Association. A technical subcommittee, made up of experts from these agencies, is also providing critical data and recommendations to guide government decision-making.
“The strength of this task force lies in its broad representation from both the public and private sectors. Each agency and organisation has a critical role in ensuring a comprehensive assessment of the impact of these tariffs,” Minister Hippolyte said.
Findings and recommendations from the task force will be forwarded to the Cabinet to guide policy decisions aimed at supporting businesses, protecting consumers, and strengthening economic stability.
Minister Hippolyte stressed the importance of collaboration.
“Let this task force be a model of how government, private sector, and industry stakeholders can work together in the face of global economic challenges. I am confident that with data-driven insights, meticulous coordination, and decisive action, we will emerge from this period stronger, more informed, and better prepared for the future,” she said.
Today is the 20th of March …. I see SLU still seems to be in a stupor over the orange one’s tariff missives. When I used to tell my friends and colleagues to PAY ATTENTION to what is happening in US politics, as the effects could trickle down to us (domino effect style) in the Caribbean. I was told by them, we are “immune” – well – LOOK IT!! Our govt has to form a “task force” to mitigate the orange one’s dastardly rulings!! In the meantime, I have confidence in Ms Hippolyte’s looking at the impacts of these US rulings – and us St Lucian’s should support her efforts. Ms Hippolyte does not lie down on such issues.