The Opposition leader Jarion Richardson says government needs to quickly adjust to ‘new reality’ amid US Trump trade tariff war
Re-evaluate our purchasing strategies and partnerships, according to the One Bermuda Alliance, in response to US President Donald Trumps new trade tariffs.
Jarion Richardson, leader of the Opposition One Bermuda Alliance says Bermuda will be living in a new reality given the US’s commitment to tariff changes with Canada and other foreign partners.
He said, ” The tariff on Canadian steel and aluminum will drive up the cost of cars and washing machines. So, cars and washing machines are going to go up in cost in Bermuda.
“Its that kind of down stream impact we’re going to anticipate. We’re going to see the same for pharmaceuticals and food and all things like that.
“So we’re going to be living in a new reality as the U.S. continues to prosecute their trade war against their trade partners.”
Mr. Richardson says the government should leverage its existing trading partners to assimilate to the shifting global trade dynamics.
He says the first step is not to panic and keep hope alive in Bermuda’s resilience in weathering global economic challenges in the past.
Mr. Richardson added, “The first step is to calm down. The second one is to evaluate our circumstances very carefully.
“We still have a fantastic trade partner in Canada and we’re still able to fly into and out of Canada quite easily so our tourism product can shift into a new market.”
Last night the Cabinet Office confirmed that Bermuda has been liaising in direct discussions with its Washington, DC office working with Government House, the US Consul General and the Ministry of National Security on the trade tariff changes.
A spokesperson said, “This is a serious issue, and the Government continues to liaise with the leadership of the container lines that may be impacted.
Food security and an uninterrupted supply chain are critical to Bermuda and the Government is working to ensure this is made clear to the relevant Committee set to consider the issues later this month.
And the Premier and Minister of Finance, David Burt, added, “My phone number and email address remain the same, and I encourage the Leader of the Opposition to use it if he or his members have questions on official matters.
“The continued attempts of the Opposition to try to conduct public policy through the press for the last three weeks shows they have not learned the lessons from the election — that obstruction and deflection without presenting alternatives is not the way to earn the support of voters.”
