Maroc - NEWSDAY.CO.TT - A la Une - 21/Nov 17:12

Economic risks to shifting US tariffs

A new policy brief from the Caribbean Natural Resources Institute (CANARI) warns that a convergence of geopolitical factors, including recent changes in US tariff and immigration policies, has greatly heightened uncertainty in Caribbean economies and could significantly disrupt livelihoods and economic stability across the region. The publication Navigating the new tariff and immigration regimes in the Caribbean highlights the urgent need for the region to adapt and respond strategically to these fast-evolving external pressures. Drawing on preliminary research under CANARI’s Strategic Research and Policy Initiative, the brief outlines how recent changes in US domestic and foreign policies triggered the restructuring of global trade relations, reduction of development assistance flows, increase of expenditure on weapons production to support wars, reduction of immigration opportunities for countries in the Global South, and reduced efforts by the Global North to mitigate climate change and manage its impact. According to the research, new US tariffs and tightening immigration controls are expected to result in more costly trade, tightened immigration opportunities, reduced development assistance and remittance flows, and heightened economic uncertainty across the region. Key recommendations from the policy brief are: • Caribbean governments must prepare urgently for the economic repercussions from recent upheavals in the global trade regime and rapidly tightening immigration controls that are reducing employment options for Caribbean citizens. • In response to new tariffs from the United States, Caribbean countries must intensify efforts to diversify with a view to expanding exports while reducing dependency on extra-regional supplies of food and energy. • Caribbean governments should enhance incentives and resources for young people to become entrepreneurs as a principal vehicle for generating employment opportunities. • Caribbean governments should strengthen regional cooperation by the public and private sectors in food and energy production and distribution. • Caribbean governments must develop labour policies suited to the changed geopolitical economic order, as well as create educational programmes to provide citizens with relevant modern skills, including in agro-industries and artificial intelligence. “This research emphasises just how important it is for the Caribbean to reassess long-standing development strategies amid global uncertainty,” said Nicole Leotaud, Executive Director of CANARI. “Such re-thinking must be based on assessments of the political economy in all its dimensions, at global, regional and national levels, and the most current projected risk profile for the region”, she added. The policy brief forms part of a wider programme of research and dialogue that CANARI will lead in partnership with stakeholders across the Caribbean to contribute to a sustainable future for the region. About CANARI: The Caribbean Natural Resources Institute (CANARI) is a regional technical non-profit institute which has been working across the Caribbean islands for more than 30 years. Its mission is to promote and facilitate stakeholder participation in the stewardship of natural resources in the Caribbean. Its work focuses on biodiversity and ecosystems, equity and justice, participatory governance and resilience. The post Economic risks to shifting US tariffs appeared first on Trinidad and Tobago Newsday.