![\"Trade](\"https:\/\/www.bahamastradeinfo.gov.bs\/cms\/wp-content\/uploads\/2026\/02\/483833675_967919155531502_5553598062960966068_n-300x300.jpg\")
BCCEC Responds to Changing Tariff Environment<\/h3>\nBCCEC Responds to Changing Tariff Environment<\/h3>\nBahamas Chamber of Commerce and Employers\u2019 Confederation (BCCEC) CEO Dr. Leo Rolle said the chamber continues to encourage local businesses to diversify their supply chains, as continually changing US tariffs cause the price of certain goods to shift upwards.<\/p>\n
Rolle called the recent announcement by US President Donald Trump of an increase in global tariffs to 15 percent, a wake-up call and an opportunity.<\/p>\n
\u201cAs we have moved to diversify procurement directly from other jurisdictions, we continue to encourage businesses to seek alternative avenues where possible and beneficial to pass cost savings onto consumers,\u201d said Rolle.<\/p>\n
\u201cWhile we aren\u2019t yet sure how much this will hurt our own exports, given that our largest product export remains fisheries, the real takeaway here isn\u2019t about daily rate changes, but how we survive in a world where the old rules of global trade are being thrown out the window.<\/p>\n
\u201cWe used to live in a world where everyone agreed that globalization and collaboration were the keys to prosperity. That\u2019s what built organizations like the OECD and the WTO.<\/p>\n
\u201cBut look around, that\u2019s all changing. Other countries are closing their borders, slapping on tariffs, and pulling away from the table.\u201d<\/p>\n
Rolle said policymakers should be having conversations about how the country functions in the face of these radical changes in trade geopolitics.<\/p>\n
He said more one-to-one or group trade agreements are beginning to replace the big international rules.<\/p>\n
\u201cEurope is signing deals with South America, India is signing with Brazil, and just about everyone is locking in deals with China,\u201d he said Rolle.<\/p>\n
\u201cUnfortunately, we\u2019ve been historically bad at leveraging these kinds of agreements. Barbados has a full time team of experts dedicated to squeezing every bit of value out of their trade deals, while we\u2019ve traditionally had one or two people doing it part-time.\u201d<\/p>\n
He said, though, that the Bahamas Trade Commission has turbo-charged the country\u2019s move to diversify supply chains.<\/p>\n
According to Rolle, The Bahamas has to be intentional about developing trade routes that strengthen US collaboration and also allow for procurement diversity to continue to create and prosperity.<\/p>\n
\u201cThe BCCEC has been working with the Bahamas Trade Commission, the US Embassy, the Chinese Embassy, the British High Commission and Bahamian embassies and consulates across multiple regions to strengthen trade and ensure diversification,\u201d he said.<\/p>\n
\u201cInternationally, we have partnered with organizations like the Caribbean Export Development Agency, International Organization of Employers and JAMPRO (Jamaica Promotions Corporation) to be ahead of shifting tariffs and economic instability.<\/p>\n
\u201cWe continue to work with the government to ensure that together, we do all we can to lower the cost while increasing the ease of doing business in The Bahamas.\u201d<\/p>\n