Impacts may not be direct, but Gov’t says global supply chain could cause prices to rise for consumers
Image: US President Donald Trump announces ‘reciprocal tariffs’ on goods imported into the USA (CBS News) / Shoppers in Hamilton, Bermuda (File photo)
Government Press Release:
The Government of Bermuda is aware of the recent announcement by the United States that it will impose a global minimum 10% import tariff on items imported into the United States.
The public is advised that the tariff listed for Bermuda, which is the minimum 10%, is not expected to have any significant direct impact on Bermuda, as the island exports very few goods to the United States in a manner that would be affected by tariffs.
Premier David Burt said, “Bermuda and the United States remain strong partners, which was reaffirmed during my recent visit to Washington, D.C. Following my return to Bermuda, I also met with the new US Consul General Antoinette Hurtado.
“While the United States’ new tariff regime may not have a significant direct impact, its impact on other jurisdictions and global supply chains will likely increase global prices and the costs of goods that we import.
“The government will continue to engage directly with the United States on this and other critical issues, such as shipping. We will also continue to monitor the economic impact of the US’s new tariff regime as to how it may affect local prices.
The Government has acted in the past to protect Bermudians from 40-year high global inflation, and we will do whatever we can to minimise the impact of this change in US trade policy.”
