Belmopan. April 3, 2025.
Today, April 3, 2025, the Government of Belize convened a high-level meeting bringing together key ministers and senior government officials from the Ministry of Foreign Affairs and Foreign Trade, the Ministry of Finance and Economic Transformation, and the Central Bank of Belize to consider the implications of the recently announced reciprocal tariffs by the United States.
To date, Belize’s exports to the US generally benefit from duty-free access to the U.S. market under the Caribbean Basin Initiative (CBI) in place since 1983. The imposition of a 10% tariff could have adverse effects on longstanding key export interests. However, initial analysis suggests that the broad application of the 10% tariff on all U.S. trading partners may limit the potential harm from the tariff on Belize.
Recognizing the potential impacts of the tariffs on trade relations and economic activity, the Government has engaged with the private sector to collaborate on effective risk management strategies in service of Belize’s economic interests. The Government will leverage all available political and diplomatic channels—both bilaterally with the U.S. and regionally through CARICOM—to mitigate any adverse effects and identify opportunities in the evolving trade environment.
Belizeans can be assured that this matter is being handled with the utmost diligence at the highest levels of government. As details emerge, the Government will continue to closely monitor the situation while keeping the public informed, and safeguarding key sectors of this robust economy for the interest of Belizean livelihoods.
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