The Barbados Manufacturing Association (BMA) has adopted a “wait-and-see” approach regarding the impact the 10 per cent US imposed tariff will have.
That position has been explained by the BMA’s Executive Director, Shardae Boyce.
She tells CBC News that companies trading under a specific caricom arrangement, for example, may be shielded from the tariff.
However, she emphasizes that further clarification is needed to confirm whether this will be the case.
Ms Boyce says for companies not trading under the Caribbean Basin Initiative, the tariff will apply, compounded by the already existing duties.
The Executive Director notes that local small manufacturers in various sectors may not be in the financial position to absorb the additional cost resulting in consumers being impacted.