KEVON FELMINE
Senior Reporter
kevon.felmine@guardian.co.tt
As Caricom Heads of Government meet today, Professor of International Relations Andy Knight urges leaders to consider strengthening partnerships with Canada and China to diversify trade away from the United States of America (US).
Last week, US President Donald Trump directed his economic team to develop reciprocal tariffs on countries taxing US imports, citing fairness. Speaking at the University of the West Indies’ virtual Vice-Chancellor’s Forum, titled President Trump’s Great Policy Shift, Knight noted that Trump’s numerous executive orders affecting foreign policy present an opportunity to reduce dependence on the US.
He suggested investing in digital infrastructure and e-commerce platforms to open new markets and enhance trade relations.
“In digital trade, there is an opportunity to break geographical barriers, allowing businesses to thrive and reach customers in Asia, Europe, and China,” Knight said.
Knight recalled that when Chinese President Xi Jinping visited the Caribbean early in his tenure, he advocated stronger Caricom-China relations. With China’s Belt and Road Initiative extending into the region, Knight said Caribbean nations could benefit from Chinese investment in infrastructure and business. He added that China approaches the Global South differently from the US.
“I know there is some criticism, but this is an opportunity to diversify from the US by fostering a better relationship with China.”
Professor of Corporate Finance, Justin Robinson, said he regarded Trump’s first days in office as a period of uncertainty but also a crucial moment for the Caribbean Community to redefine its global position. He urged leaders to shift their mindset. He referenced late Barbadian Prime Minister Errol Barrow’s 1967 declaration that Barbados and the Caribbean “will be friends of all, satellites of none.”
Robinson acknowledged that the US has historically been the Caribbean’s primary trading partner due to geographical proximity and economic influence. However, he argued that Caricom leaders must now embrace a multipolar world.
“We have had an America-first outlook in business. Now, as a region, nations, corporations, universities, and organisations must embrace this mental shift and explore diverse global relationships. This shift creates opportunities to deepen trade ties within Caricom, SELA (the Latin American and Caribbean Economic System), and other global markets,” Robinson said.
Meanwhile, he said central banks in countries like T&T, which have adopted a floating exchange rate, must consider strategies to combat imported inflation as Trump moves to impose reciprocal tariffs. He warned that tariffs could trigger economic retaliation, potentially leading to a crisis.
