Posted: Friday, August 15, 2025. 7:08 am CST.
By Breaking Belize News Staff: Belize’s exports to the United States have been hit with a 10% tariff as of August 7th, affecting key products like peppers, pepper sauces, rum, and sugarcane. The move has raised concerns among exporters, particularly given the importance of these goods to the nation’s economy.
Minister of Foreign Trade, Francis Fonseca, confirmed the tariff is in effect and acknowledged that the government, in collaboration with the private sector, has been actively addressing the situation. “We’ve been working on this for a long time with industry partners. The 10% applies across the board, and we’re especially concerned about products like sugar and rum. We are working closely with Caricom to push back and protect our market access,” Fonseca said.
The minister added that Caricom is actively engaging with U.S. authorities through the Caribbean Basin Initiative (CBI) framework to address the matter. “We feel good about the progress being made and believe solutions are within reach,” he stated.
The tariff comes as part of a wider U.S. trade policy change under President Trump, which imposes new rates on nearly all U.S. trading partners, starting at 15% for some nations and as high as 50% for others. For Belize, the government is now racing to mitigate the economic fallout and safeguard vital exports.
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The post Belize faces 10% US tariff on key exports; Government in talks for relief appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Friday, August 15, 2025. 7:08 am CST. By Breaking Belize News Staff: Belize’s exports to the United States have been hit with a 10% tariff
The post Belize faces 10% US tariff on key exports; Government in talks for relief appeared first on Belize News and Opinion on www.breakingbelizenews.com.
