Premier to meet with businesses to discuss US tariffs

The British Virgin Islands government has broken its silence on the recent wave of US-imposed tariffs, which have raised global concerns about an impending recession.

In a statement issued on April 7, the government said it is “deeply concerned” about the tariffs levied by the United States on countries worldwide, including a 10 percent tariff on the Virgin Islands. The statement noted that the latest measures build on prior tariffs targeting imports from Mexico, Canada, and China, as well as global tariffs on steel.

According to the government, the growing threat of a global trade war, coupled with proposed U.S. fees on shipping operators using Chinese-built vessels, could significantly increase costs for the BVI and the wider Caribbean.

Premier Dr Natalio Wheatley underscored that his top priority is the economic stability of the territory. He said plans are underway to consult with key industry stakeholders in the coming days.

“Safeguarding the economic interests of the Virgin Islands is our utmost priority,” the Premier said. “We are actively engaging with key stakeholders across industries and will be meeting with business leaders and retailers to ensure our response protects the needs and interests of BVI consumers as effectively as possible.”