Bahamas hit by 10 percent tariff by US

THE Bahamas has been hit with a 10% tariff as the US has announced tariffs affecting nations around the world. 

US President Donald Trump made the announcement on Wednesday from the Rose Garden - with a 10% baseline tax being imposed on imports from all countries, while dozens of nations face higher tariff rates if they run trade surpluses with the United States. 

Trump held up a chart while speaking at the White House, showing the United States would charge a 34% tax on imports from China, a 20% tax on imports from the European Union, 25% on South Korea, 24% on Japan and 32% on Taiwan.

The president used aggressive rhetoric to describe a global trade system that the United States helped to build after World War II, saying "our country has been looted, pillaged, raped, plundered" by other nations.

Trump declared a national economic emergency to launch the tariffs, expected to produce hundreds of billions in annual revenues. He has promised that factory jobs will return back to the United States as a result of the taxes, but his policies risk a sudden economic slowdown as consumers and businesses could face sharp price hikes on autos, clothes and other goods.

"Taxpayers have been ripped off for more than 50 years," Trump said in remarks at the White House. "But it is not going to happen anymore."

The president's higher rates would hit foreign entities that sell more goods to the United States than they buy, meaning the tariffs could stay in place for some time as the administration expects other nations to lower their tariffs and other barriers to trade that it says have led to a $1.2 trillion trade imbalance last year.

None of the warning signs about a falling stock market or consumer sentiment turning morose have caused the administration to publicly second-guess its strategy, despite the risk of political backlash as voters in last year's election said they wanted Trump to combat inflation.

Senior administration officials, who insisted on anonymity to preview the new tariffs with reporters ahead of Trump's speech, said the taxes would raise hundreds of billions of dollars annually in revenues. They said the 10% baseline rate existed to help ensure compliance, while the higher rates were based on the trade deficits run with other nations and then halved to reach the numbers that Trump presented in the Rose Garden.

In a follow-up series of questions by The Associated Press, the White House could not say whether the tariff exemptions on imports worth $800 or less would remain in place, possibly shielding some imports from the new taxes.


Comments

Bonefishpete says...

Not Great Not Terrible

Posted 2 April 2025, 7:20 p.m. Suggest removal

ThisIsOurs says...

Said like someone who doesnt realize that some of the goods we import will come to us through the US by way of a heavily taxed jurisdiction. Basic not good.

Posted 2 April 2025, 7:29 p.m. Suggest removal

Bonefishpete says...

Well get Hatchet Bay back up and running again.

Import directly, maybe Freeport would work. Did no one see this coming?

Posted 2 April 2025, 7:33 p.m. Suggest removal

ThisIsOurs says...

Producing our own food as a cheaper option is a farce, we import all the inputs and our labour, water and electricity costs are astronomical not soon to be remedied.

The linchpin in "food security" is "*security*". If our supply chains are cut off in some global pandemic like scenario, food is our security. When we move into "normal" every day operation, without heavy govt subsidies, locally grown food is not a viable option for the average consumer making at or near minimum wage. The last time I purchased a whole chicken was prepandemic and I purchased Abaco Big Bird because they supplied beautiful fresh chicken, but even then it was a high price,10 dollars each minimum. Most of our wont and maybe cant opt to pay that.

Posted 2 April 2025, 7:42 p.m. Suggest removal

JokeyJack says...

Freeport is owned by China. Too late for that thought. Successive governments have sold various parts of the Bahamas to keep VAT at 10% instead of 20% for fear of losing an election. Silly thought. They could make VAT 50% and Bahamians would still vote for them.

Posted 2 April 2025, 9:42 p.m. Suggest removal

ThisIsOurs says...

From.cnn.com today post tariff announcement:

*Apple (AAPL) tumbled more than 7% in after-hours trading. The tech giant relies extensively on supply chains in China, which will be subject to steep tariffs.*"

"*President Trump just finished his tariff speech at the White House and we would characterize this slate of tariffs as ‘worse than the worst case scenario’ the Street was fearing,” said Dan Ives, senior analyst at Wedbush Securities, in a note.*

*Ives said “the jaw dropper” was Trump slamming hefty reciprocal tariffs on China, bringing its rate to 54%.*

**The elephant in the room for most US products is the "*relies extensively on supply chains in China*"**

Posted 2 April 2025, 7:38 p.m. Suggest removal

birdiestrachan says...

A list of what the Bahamas exports will be helpful salt. sand crawfish. The Bahamas government will address the matter
And God will come to our aid. It is said you can do as much as you like but not as long as you like there is a season Hold on this too will pass

Posted 2 April 2025, 8 p.m. Suggest removal

JokeyJack says...

Birdie, it's no surprise that you would defend our government in any event LOL. Where's Tal? He should be here ringing a cowbell too. The Bahamas does not manufacture salt for human consumption from Inagua to the family table. It is exported. Why? Why can't we even make a toothpick in this country? Don't worry. We don't export anything except our money and Bahamians LOVE paying high taxes anyway, so it don't matter. BPL fuel surcharge, land conveyance, gas & diesel tax, import duties, VAT, and VAT on duty, we just love that stuff and will vote PLP or FNM next time or stay home. That's just how we go.

Posted 2 April 2025, 9:39 p.m. Suggest removal

Bonefishpete says...

Rebuild the Freeport Airport and import Chinese electronics by air. Become a free duty Island.

Posted 2 April 2025, 9:27 p.m. Suggest removal

ThisIsOurs says...

China will lose sales in its biggest market. What happens when sales in one line declines? The provider hikes up the prices in the other streams to stay afloat. Thinking there's some way to get out of the global fallout is akin to Tourisms positive spin in 2020 on "capitalizing" on high COVID rates across the world to lure tourists here. (Scientifically it was the dumbest proposal ever and noone gambling the lives of Bahamians in such a way with no real thought or understanding should be allowed in govt ever again)

Posted 3 April 2025, 4:18 a.m. Suggest removal

Porcupine says...

These tariffs will definitely hurt the working people in The Bahamas.
But, they pale in comparison to the millions, if not billions, stolen from us by our own politicians.
The rate at which this administration is sinking The Bahamas has no comparison to the tariffs or to the sordid history of ill-governance of this country.
It is our own people who are robbing us blind and destroying any hope for our children.
If you don't understand that, that is the very problem.

Posted 3 April 2025, 7:35 a.m. Suggest removal

Sickened says...

100%

Posted 3 April 2025, 8:48 a.m. Suggest removal

Sickened says...

Can someone please explain how the Trump's chart was organized? Maybe it's alphabetical order in MAGA land? Maybe it's organized by MAGA regions?

Posted 3 April 2025, 8:50 a.m. Suggest removal

ExposedU2C says...

Organized by Trump administration's ranking of current threat level to the USA as determined through an algorithmic weighting process using a multitude of factors, with highest weighted one being the influence exerted by the ChiComs over corrupt elected officials.

Posted 3 April 2025, 12:34 p.m. Suggest removal

quavaduff says...

Like most of tRump's "initiatives", it's pulled out of his ask.

Posted 3 April 2025, 3:36 p.m. Suggest removal

hrysippus says...

This tariff is economically survivable for the Bahamas. Some GB jobs in the petroleum refining business on Grand Bahama will be lost, the crawfishermen on Long Island and Spanish Wells may take a hit, but since so many were/are supporters of You Know Who then I ain't checking for them anyways. The real danger may be in the soon to be released list of 43 countries which will have US travel restrictions. Obviously Haiti and DR will on it, and if The Bahamas then too then we are in serious trouble.

Posted 3 April 2025, 10:38 a.m. Suggest removal

ExposedU2C says...

All Bahamians will be impacted by significantly higher costs associated with non-US produced/manufactured goods imported by our nation via the US because the Trump administration is planning to do away with duty-free trans-shipment zones at all US ports (both sea & air) throughout the US.

Posted 3 April 2025, 12:43 p.m. Suggest removal

quavaduff says...

Spot on hrysippus .... I nominate hrysippus for the next Prime Minister

Posted 3 April 2025, 3:40 p.m. Suggest removal

ThisIsOurs says...

So every major producing country in the world including China takes a hit, but the Bahamas that imports everything is unscathed? Yup, makes sense.

Posted 3 April 2025, 7:58 p.m. Suggest removal

bahamianson says...

Every country has to do what is deemed best for its own citizens. Everyone else must adjust. Not hard, just adjust. Be thankful that we got a discount all these years , but the question is, what did we do with the discount? Did we always think that the discount would never stop? Did we plan our spending like it would? If you are a parent , you will appreciate that you must save while the saving is good and be wise in your spending. I will be affected, but I understand what he is doing. Maybe Bahamians should settle to deal with internal national issues that we have been kicking down the road for decades, like the Haitian migration, whom is a citizen, marital rape etc. we are too scared to deal with the political fallout, no more, no less. Get Things Done!!!

Posted 3 April 2025, 12:42 p.m. Suggest removal

ThisIsOurs says...

From cnn.com "*Stellantis (manufacturer of Chrysler, Dodge, Jeep, Fiat, Peugot...) says it has “paused production” at some of its Canadian and Mexican auto assembly plants due to the newly announced tariffs, and that as a result, some US workers will also be temporarily laid off.*"

People are losing jobs immediately, businesses will close, plants will close, rural towns will suffer, people will lose healthcare, some will lose homes and people **will** die.

I saw one story of a US importer who spoke about a 25,000 dollar additional tax bill to import fruits and vegetables because they had the unfortunate luck to have a shipment arrive between Trump implementing a tariff and then revoking it. The "*short life*" of the tariff didnt matter, the company was out 25,000 dollars they didn't have to spare.

I wish Bahamians would stop repeating the "*short term pain**" narrative. For some people their lives will be destroyed and it will take years to rebuild post Trump's term. There will be nothing "*short term*" about this for them and no Bahamian should cheer destroying lives to make a point.

Posted 3 April 2025, 2:31 p.m. Suggest removal

quavaduff says...

tRump is a disaster for the US and the world.... who thinks a 6 times bankrupt "businessman" knows economics or business.

Posted 3 April 2025, 3:43 p.m. Suggest removal

bogart says...

The elephant in the room is that the Bahamian dollar is based on the US dollar.

Posted 3 April 2025, 6:15 p.m. Suggest removal

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