Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Caribbean Worried About Impact of Fines on China-Made Vessels

**Excerpt:**
Caribbean leaders are rallying ahead of a crucial meeting with U.S. Secretary of State Marco Rubio on March 26, 2025, in Jamaica, to address proposed U.S. fines on Chinese-made cargo vessels. These fines, which CARICOM leaders fear could disrupt trade networks and increase transportation costs, pose a significant threat to the region’s oil and gas industries—key drivers of economic growth. Guyana’s President Irfaan Ali has emerged as a leading voice, emphasizing the potential for job losses, higher consumer prices, and economic instability. As the Caribbean unites to advocate for policies that support its recovery and development, the meeting marks a pivotal moment in U.S.-Caribbean relations, with far-reaching implications for the region’s future.

Listen to the article now

Caribbean Leaders Voice Concerns Over U.S. Fines on Chinese-Made Cargo Vessels Ahead of Key Meeting with U.S. Secretary of State

The Caribbean Community (CARICOM) is preparing for a pivotal meeting with U.S. Secretary of State Marco Rubio on Wednesday, March 26, 2025, in Jamaica. The primary focus of the discussion will be the proposed U.S. fines on Chinese-made cargo vessels, a move that Caribbean leaders fear could have severe economic repercussions for the region, particularly its oil and gas industries.

The Caribbean’s reliance on Chinese-made vessels for trade and transportation is central to the issue. These vessels are critical for moving goods and resources that sustain local economies. However, the U.S. government’s proposed fines have raised alarms among CARICOM leaders, who argue that such measures could disrupt trade networks, increase transportation costs, and undermine the region’s economic stability.

In preparation for the meeting, CARICOM leaders held a virtual meeting on Friday, March 21, 2025, to align their positions and strategize their approach. Among the key voices leading the charge is Irfaan Ali, President of Guyana, who has been vocal about the potential impact of the U.S. fines.

“The proposed fines on Chinese-made cargo vessels pose a direct threat to our oil and gas industries, which are vital to the Caribbean’s economic growth,” President Ali stated during the virtual meeting. “We cannot afford to see transportation costs rise or our trade networks disrupted. This is a matter of regional importance, and we must present a united front.”

President Ali’s concerns are shared by other CARICOM leaders, who worry that the fines could lead to higher costs for transporting goods. This, in turn, could make it more expensive for businesses to operate and potentially drive up prices for consumers. The ripple effects could be felt across the region, from small businesses to large industries.

The issue goes beyond economics; it has a deeply human impact. The Caribbean’s oil and gas sectors are not just economic drivers—they are sources of employment, investment, and development. Any disruption to these industries could result in job losses, reduced economic opportunities, and slower progress for communities across the region.

The proposed fines also come at a challenging time for the Caribbean, as the region continues to recover from recent economic difficulties. CARICOM leaders argue that now is not the time to introduce policies that could further strain their economies. Instead, they are calling for collaboration and understanding from the U.S. government.

As the meeting in Jamaica approaches, CARICOM leaders are preparing to present their case to Secretary Rubio. Their goal is clear: to advocate for policies that support, rather than hinder, the Caribbean’s economic growth and stability. The outcome of this meeting could have significant implications for the region’s future, making it a pivotal moment in U.S.-Caribbean relations.

In the meantime, the Caribbean remains united in its stance, with leaders like President Irfaan Ali at the forefront of efforts to protect the region’s interests. As the world watches, the Caribbean is sending a powerful message: its voice matters, and its concerns deserve to be heard.

Stay tuned for updates on this developing story, as the Caribbean continues to navigate the complexities of global trade and diplomacy.


Comment Template

You May Also Like

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok