In 2024, the United States purchased goods worth roughly $8.4 million from St Vincent and the Grenadines (SVG). This figure, while notable, does not significantly impact the country's Gross Domestic Product (GDP). Prime Minister Dr Ralph Gonsalves commented on the potential effects of President Trump's 10% baseline tariff on SVG exports.
As reported by Reuters, U.S. customs agents commenced the collection of the 10% tariff on imports starting April 5, 2025. During a recent press briefing, Dr Gonsalves remarked on the minimal nature of the tariff in relation to SVG. The implemented tariff, part of a broader trade policy shift, appeared less likely to heavily impact SVG exporters.
The new tariff regulations came into effect at U.S. seaports, airports, and customs warehouses on April 5, 2025, at 12:01 p.m. This policy reflected a larger departure from previously established tariff agreements.
The Ministry noted that while SVG's export volumes to the U.S. are modest in comparison to imports, certain products maintain a presence in the U.S. market.
Source: Searchlight
