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Barbados Faces $157.6M Loss from New US Tariffs

5/5/2025

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Summary

Story summary

Barbados could incur economic losses between $88.9 million and $157.6 million from new US tariffs, affecting GDP.
In 2024, imports from the US totaled $1.6 billion, while exports were only $161.1 million.
The Central Bank cautions about declining tourism and exports, recommending diversification and resilience strategies.
In Q1 2024, Barbados' trade deficit increased by $143 million, with imports up 13.3% and exports down 2.6%.

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Story summary

Barbados could incur economic losses between $88.9 million and $157.6 million from new US tariffs, affecting GDP.
In 2024, imports from the US totaled $1.6 billion, while exports were only $161.1 million.
The Central Bank cautions about declining tourism and exports, recommending diversification and resilience strategies.
In Q1 2024, Barbados' trade deficit increased by $143 million, with imports up 13.3% and exports down 2.6%.