The Government of The Bahamas has taken note of the announcement by U.S. President Donald Trump to impose a 10% reciprocal tariff on several Caribbean countries, including The Bahamas, that export duty-free to the United States under the Caribbean Basin Initiative (CBI). It is important to note that The Bahamas currently maintains a trade deficit with the United States.
We will engage with our U.S. counterparts and work collectively with our CARICOM partners in response to this development. The Government has approved a National Trade Policy aimed at diversifying trade. As part of our broader strategy to protect the Bahamian economy, we have already announced a number of measures, including the development of a trade diversification framework. We remain focused on minimizing the impact of global trade decisions on Bahamian businesses and consumers.