pressrelease

Bridgetown, Barbados, June 25^th, 2025— The CARICOM Private Sector Organization (CPSO) welcomes and strongly supports the decision taken at the Sixtieth Regular Meeting of the Council for Trade and Economic Development (COTED) for the alteration of the Common External Tariff (CET) on paints and varnishes to 35%, effective July 1, 2026.

This decisive policy move follows comprehensive industry research which confirmed that persistently underpriced imports from extra-regional countries have placed severe and sustained pressure on the Region’s paint manufacturing sector. These extra-regional imports have distorted the market, undermined domestic production and threatened employment and investment, jeopardizing the long-term viability of one of CARICOM’s key manufacturing value chains.

Dr. Patrick Antoine, CEO and Technical Director of the CPSO, speaking on the COTED Decision, said “The alteration in the CET to 35% represents a necessary and timely intervention for the paint and varnishes industry. This decision will set us on a pathway to level the playing field for CARICOM manufacturers, safeguard regional jobs, and ensure that investment in quality production is not undermined by unfair trade practices.”

The CPSO commends the Honourable Kerrie Symmonds, Minister of Foreign Affairs and Foreign Trade of Barbados, and Chair of COTED for his visionary leadership and steadfast commitment to ensuring a rules-based, equitable trade environment that supports regional production and enables CARICOM’s industrial development.

The Decision by COTED Minsters, is expected to catalyze approximately USD 200 million in investments in the CSME paints and coatings sector over the next three years. Already, investments in plant expansions have been undertaken by paint manufacturers in Saint Lucia, Grenada, Suriname, and Jamaica, where a new innovative facility was commissioned in March of this year.

Yet the CET adjustment highlights a broader regional need. Dr. Antoine noted “the requirement for CARICOM to operationalize a Community-wide regime of trade defense measures to safeguard regional producers from unfair trade practices, which will emerge in the routine context of international trade.” He also indicated that while three CARICOM Member States maintain competent authorities capable of addressing unfair trade practices at the national level, an effective coordinated mechanism to respond in instances where the CSME market was impacted, remained lacking.

The CPSO stands ready to support Member States with implementation of the COTED Decision by July 1, 2026. The CET adjustment is consistent with the objectives of the CARICOM trade regime to strengthen production and trade in the CSME, providing regional manufacturers with the scale required to achieve efficiency gains, thereby strengthening their ability to compete in extra-regional markets.

The Decision was the result of region-wide collaboration. The CPSO was tasked with coordinating the technical work underpinning the request for the CET alteration for paints and coatings by paint manufacturing companies in the Organization of Eastern Caribbean States (OECS), with strong support from manufacturers in all the More Developed Countries (MDCs).  The CPSO CEO, remarked that this action, which commenced with the smallest of manufacturers, and secured the support of the COTED Ministers, after thorough analysis, was an effective demonstration of the benefits of CARICOM.

The CET alteration comes as CARICOM advances its Industrial Policy framework, amidst a resurgence of regionalism, rising global tensions and the imposition of the U.S. reciprocal tariff of 10% on CARICOM exports. In this context, the move to strengthen tariff protection for key industries such as the paints and coatings sector, represents both a necessary defense and proactive step toward deeper regional integration.

For media enquiries, please contact:

The CPSO Secretariat

Email: info@thecpso.org | website: www.thecpso.org

Port of Spain, Trinidad and Tobago – The CARICOM Private Sector Organization (CPSO), extends its warmest congratulations to the Honourable Kamla Persad-Bissessar S.C. on her appointment as Prime Minister of the Republic of Trinidad and Tobago following the mandate bestowed by the people on April 28th, 2025.

Prime Minister Persad-Bissessar assumes office at a pivotal moment in geopolitical, regional and national affairs. The CPSO acknowledges the immense responsibilities that accompany this leadership role, and the Organization stands ready, with the full support of its membership, to contribute meaningfully to the vision of a stronger, more peaceful and prosperous Trinidad and Tobago.

The CPSO remains steadfast in its commitment to the Caribbean Community and looks forward to continued engagement with all CARICOM Member States toward achieving sustainable development, inclusive growth and deeper regional integration.

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Port of Spain, Trinidad and Tobago – April 19, 2025 On behalf of the regional private sector, the CPSO is grateful for the ‘USTR Determination’, on ‘China-built vessels’, published on April 17th, 2025. This Determination, in effect, exempts Caribbean Shipping from the high port fees on China-built vessels, originally proposed by the United States Trade Representative (USTR). As originally proposed by the USTR, these high port fees, in excess of US $1,000,00000 for each US Port call , would have increased the cost of shipping between the Caribbean and the United States, with crippling consequences for inflation, shortages, delays and other ‘supply-chain’ disruptions for the people and the economies of CARICOM and the Caribbean.

The CPSO appreciates the ‘USTR Determination’ and recognizes that this tremendously beneficial outcome is the product of leadership and collaboration among several key private sector stakeholders and the governments of the CARICOM states. We make particular mention, in this regard, of our CARICOM Heads of Government, chaired by Prime Minister Mia Amor Mottley. The priority attention
given to this issue by the Heads of Government, evidenced by their fervent advocacy at the meeting with U.S. Secretary of State Marco Rubio and their communication to President Donald Trump under the pen of Prime Minister Mottley, has been a significant driver of this positive outcome.

The technical leadership and commitment of our CPSO Secretariat, led by one of CARICOM’s most competent Economists, Dr Patrick Antoine and his team, and their submissions and oral testimony was a major determinant of the positive USTR outcome. The coordination and advocacy of the CPSO was demonstrated by the record setting 700 plus attendees from multiple industries and countries in the Caribbean on the first coordination call to deal with the issue on March 18th, 2025. Indeed, the two community-wide regional consultations subsequently held to define and refine the regional private sector position for submission to the USTR, were proud moments for the private sector, symbolizing the enormous possibilities for successful outcomes inherent in collective action in pursuit of common goals.

The CPSO credits the openness and transparency of the USTR and the USTR Panel, comprising various representative from other US Government Departments. The USTR and its Panel were receptive to the issues peculiar to the Caribbean, introduced via the submissions made by and testimony of the CPSO and other Caribbean partners.

The partnership and collaboration with Tropical Shipping’s CEO Tim Martin and Jennifer Nugent-Hill, a Director on the CPSO-United States Business Council Executive (CPSO-USBC), has been invaluable. We publicly acknowledge the collaboration with Caribbean Hotel and Tourism Association (CHTA), Caribbean Tourism Organisation (CTO), Seaboard Marine, Atlantic Council, Caribbean Shipping Association (CSA), Mr. Darwin Telemaque, CEO of the Antigua Port Authority, Mr. Gerard Bergasse, Regional Manager Tropical Shipping, and the Port Management Association of the Caribbean (PMAC), all of which/whom contributed to the USTR positive determination for the Caribbean.

The positive outcome was facilitated by the seamless coordination efforts of Ambassador Wayne Mc Cook, Assistant Secretary General – CARICOM Single Market and Trade and Dr. Wendell Samuel, CARICOM Assistant Secretary-General (Ag), Economic Integration, Innovation and Development.

We were humbled by the contribution of Congresswoman Stacey Plaskett, Representative of United States Virgin Islands, who participated, at short notice, for the entire duration of the briefing meeting with the CPSO, Tropical Shipping and CARICOM Ambassadors. The strategic timing of the questions posed to the Hearings of the U.S. Ways and Means Committee, by Congresswoman Plaskett, was a
significant contributor to the USTR outcome.

Profound appreciation is also extended to the Caucus of CARICOM Ambassadors accredited to the United States for their support.

The CPSO on behalf of the regional private sector advocated for:

1. An exemption for ‘short Sea’ Shipping, defined as vessels plying the route
   between 2,750 Nautical Miles of the CARICOM/Caribbean and the
   Continental United States – the USTR Determination recommended the
   exemption for 2,000 Nautical Miles (acceptable to CPSO);
2. An exemption for vessels carrying less than 55,000 deadweight tons and less
   than 4,999 TEU’s – USTR Determination recommended the exemption for
   55,000 deadweight tons and less than 4,000 TEUs (acceptable to CPSO);
3. An exemption for specialized cargo, such as energy and chemical products
   which may exceed 55,000 deadweight tons – USTR Determination
   proposed exemptions for individual bulk capacity of 80,000 deadweight
   tons; and exemptions for specialized or special purpose-built vessels for
   the transport of chemicals substances in bulk or liquid forms (acceptable
   to CPSO).

The campaign by the regional private sector and the Community, would have been far more challenging without the overwhelming support of the regional print and electronic media. As Chairman of the CPSO, I convey heartfelt thanks on behalf of the Executive Committee and the 5,500 plus members of the Organization. We at the CPSO anticipate your continued support, even as we direct our focus to other matters critical to the Community, such as the impact of US tariffs on CARICOM trade. Dr. Antoine and his team at the CPSO are also playing an important strategic role with the CARICOM Secretariat on this issue.

To anyone I may have neglected to name and to the People of CARICOM and the Caribbean, the CPSO extends an enormous thank you.

The CPSO is honoured to have been pressed into the service of the people of the Community on such a significant issue, at such a critical time.

Gervase Warner
Chairman
CARICOM Private Sector Organization

The CARICOM Private Sector Organization (CPSO) Technical Team met internally regarding the recent announcement by US President Donald Trump’s of sweeping tariffs on countries that run trade surpluses with the United States.

On April 2^nd, President Trump announced that effective April 5^th, a baseline 10% tariff would be imposed on imports into the US. This sweeping tariff impacts several Caribbean countries including St. Lucia, the Dominican Republic, Trinidad and Tobago, the Bahamas, Grenada, St. Kitts and Nevis, Guyana, Haiti, Sint Maarten, Suriname, Belize, British Virgin Islands, Barbados, Cayman, Curacao, Bermuda, Turks and Caicos, Aruba, St. Vincent, Montserrat, Guadeloupe, Martinique, Dominica, Anguilla, and Antigua and Barbuda. Guyana faces a higher ‘reciprocal’ tariff of 38%.

In a statement on April 3^rd, CPSO CEO and Technical Director Dr. Patrick Antoine acknowledged that these tariffs would impact CARICOM economies, but he maintained that credible analysis needed to be undertaken before a comprehensive response is provided.

“Several dimensions have now become important,” Dr. Antoine said. “The measures will have both direct and indirect impacts on CARICOM economies, beginning with exports, but rapidly on imports as well. In the case of imports, some of which are routed through the US to fulfill regional markets, the impact of the tariffs will be felt through higher prices – in a fairly rapid manner. But the impacts will also be felt sector-wide, agriculture, tourism, manufacturing, etc.

There will also be an impact on US consumers and the US economy, and this will have very negative implications on the Region’s trade in Services, particularly tourism. The CPSO analysis will look at the impact of the US tariffs from the perspective of opportunities for the private sector- not solely from the perspective of challenges.”

Dr. Antoine said the CPSO is committed to working within the spirit of the Community, alongside the CARICOM Secretariat, and other regional and international institutions to leverage the best resources to meet the challenges posed by the shift in economic and trade philosophy, by CARICOM’s most significant trading partner (the US).

CEO and Technical Director of the CARICOM Private Sector Organization (CPSO), Dr. Patrick Antoine, delivered an official statement on behalf of the CPSO and its membership during the United States Trade Representative (USTR) Public  Hearing on the  Proposed Actions in the Section 301 Investigation of  China’s targeting of the Maritime, Logistics, and Shipbuilding sectors for dominance on March 24th, 2025. Please click the following link to access the complete statement: CPSO Testimony for USTR Section 301 Public Hearings

The Atlantic Council and Tropical Shipping hosted a dialogue session with CARICOM Ambassadors and the CARICOM Private Sector Organization (CPSO) in Washington D.C. on March 25^th 2025 to facilitate an update and discussion on the possible implications of the United States Trade Representative (USTR) Section 301 proposed remedies for Chinese maritime, logistics, and shipbuilding practices, and particularly the potential impact of said remedies on Caribbean economies. Read More