Dear Reader,
Welcome to our Caribbean Trade & Development News Digest for the week March 1 – 7, 2026!
📌THIS WEEK’S HIGHLIGHTS
Below are this week’s headlines!
US Treasury Secretary Scott Bessent has stated that the 15% global tariff under section 122 of the Trade Act, 1974, will be implemented some time in the coming days.
A coalition of 24 U.S. states filed a lawsuit arguing the tariff exceeds presidential authority and infringes on Congress’s control over trade policy.
A U.S. trade court ordered the government to start refunding more than $130 billion in tariffs previously ruled unlawful. Thousands of companies have filed for refunds.
🌴CARIBBEAN AND HEMISPHERIC TRADE STORIES
Minister: Becoming part of Mercosur would benefit T&T
Daily Express: Trinidad and Tobago’s potential membership in the South American trade bloc Mercosur (short for Spanish Mercado Común del Sur, or Southern Common Market) could bring significant benefits, according to Foreign and Caricom Affairs Minister Sean Sobers. Read more
Trump threatens Cuba again, says island nation may face ‘friendly takeover’
Al Jazeera: United States President Donald Trump has signalled that his administration is still pursuing a government overthrow in Cuba even as the US-Israeli war on Iran enters its second week. Read more
Can Belize Grow Its Cacao Industry Into a Major Export Sector?
Greater Belize Media: The government of Belize has launched the National Cacao Committee, a new body tasked with driving growth in the country’s cacao industry. Read more
Belize Records Modest Growth in Niche Agricultural Exports to Asia
Business, Companies & Organizations
LoveFM: Belize is gaining encouraging signals on two economic fronts tonight, modest but steady growth in niche agricultural exports to Asia and renewed international attention as a competitive retirement destination in the Caribbean. Read more
Afreximbank raises CARICOM financing cap to $5 billion to accelerate regional transformation
Afreximbank: Pan African Multilateral Bank, African Export-Import Bank (Afreximbank), has announced a major expansion of its engagement with the Caribbean Community (CARICOM), increasing its regional financing limit from US$3 billion over the next four years. Read more
Worrell: Barbados can’t get cheaper oil deals in CARICOM as regional trade still in US dollars
Barbados Today: Former Central Bank Governor Dr Delisle Worrell has warned that Barbados should abandon any expectation of getting cheaper oil deals from its Caribbean partners, since oil and fuel trade within CARICOM is priced and paid for in US dollars — just like imports from the United States or India. Read more
Bessent says global 15% tariff starts this week, predicts Trump duties will return to old levels later this year
CNBC: President Donald Trump’s recently announced 15% global tariff will likely be implemented sometime this week, rising from its current rate of 10%, Treasury Secretary Scott Bessent said Wednesday. Read more
US trade court orders tariff refunds in setback for Trump administration
BBC: A federal judge has cleared the way for thousands of businesses to receive refunds for tariffs that the US Supreme Court struck down last month. Read more
Small business owners doubt they’ll see refunds after supreme court invalidates Trump’s tariffs
Guardian: Ruling could free $175bn, but legal hurdles and higher costs have left businesses questioning if claims are even worth it. Read more
Judge rules companies are entitled to refunds for Trump tariffs overturned by the Supreme Court
NBC: In a defeat for the Trump administration, the U.S. Court of International Trade said all “importers of record” were “entitled to benefit” from the ruling against the sweeping tariffs. Read more
Mexican companies eager to keep USMCA treaty, report shows
Reuters: Mexican businesses are eager to maintain a trilateral trade agreement with the United States and Canada that is up for review this year, according to a report summarizing Mexico’s public consultation, released on Monday. Read more
📢 STRAIGHT FROM THE WTO!
Coordinators of Plastics Dialogue ready ministerial statement and other outcomes for MC14
The coordinators of the Dialogue on Plastics Pollution and Environmentally Sustainable Plastics Trade (DPP) on 6 March finalized the ministerial statement for the 14th Ministerial Conference (MC14), scheduled to take place on 26-29 March in Cameroon. The statement was first introduced by the co coordinators in November 2025 and has been continuously updated to reflect members’ perspectives following intensive consultations. Read more
Chair of agriculture talks circulates revised draft text, as MC14 outline emerges
The Chair of the negotiations on agriculture, Ambassador Ali Sarfraz Hussain (Pakistan), has circulated a revised draft text ahead of the WTO’s 14th Ministerial Conference (MC14) in Yaoundé, Cameroon, from 26 to 29 March. Most WTO members welcomed the draft as a basis for consensus at a meeting of the negotiating body on 6 March, although a couple of members said they do not find it acceptable in its current form. Read more
DG Okonjo-Iweala urges members to explore new ways to revitalize WTO at South-South event
Speaking at the 8th South-South Dialogue on Least-Developed Countries (LDCs) and Development on 6 March in Geneva, Director-General Ngozi Okonjo-Iweala highlighted the importance of members’ work to reform the WTO in the run-up to the 14th Ministerial Conference (MC14) to be held on 26-29 March. She acknowledged the progress they have made in addressing LDCs’ trade priorities and encouraged LDCs to continue pursuing their trade interests. Read more
Ahead of Women’s Day, WEIDE Fund announces US$ 1.76-million grants to women-led businesses
To mark the upcoming International Women’s Day on 8 March, the Women Exporters in the Digital Economy (WEIDE) Fund on 6 March announced its plans to disburse US$ 1.76 million in grants in the first quarter of 2026 to benefit 219 women-led enterprises in the Dominican Republic, Mongolia and Nigeria. The first disbursement sets in motion the innovative design of the WEIDE Fund, which introduces a new model of grant financing supported by technical assistance and exposure to a multistakeholder ecosystem for enterprises. Read more
EU contributes EUR 75,000 to support LDC participation at MC14
The European Union has contributed EUR 75,000 (approximately CHF 69,500) to support the participation of government officials from least developed countries (LDCs) at the WTO’s 14th Ministerial Conference (MC14), to be held from 26 to 29 March 2026 in Yaoundé, Cameroon. The contribution aims to ensure broad and inclusive participation in the WTO’s highest decision making body. Read more
WTO members conclude month-long reform discussions in Geneva
WTO members on 5 March completed a series of meetings dedicated to advancing work on WTO reform. Over the past month, members have exchanged views on a draft ministerial statement and a work plan intended to frame the scope of reform efforts following the 14th Ministerial Conference (MC14) on 26-29 March. They also finalized preparations for the ministerial level political discussion on reform to be held at MC14 in Yaoundé, Cameroon. The reform facilitator, Ambassador Petter Ølberg of Norway, described the exchanges as substantive, thoughtful and conducted throughout in a positive spirit. Read more
EU contributes EUR 1 million to strengthen trade capacity in developing economies, LDCs
The European Union is contributing EUR 1 million (approximately CHF 928,000) to support developing economies including least developed countries (LDCs) in strengthening their participation in the multilateral trading system for 2026–2027. Read more
Government Procurement Committee discusses GPA implementation, progress in accessions
At a meeting of the Committee on Government Procurement on 4 March, parties to the Government Procurement Agreement (GPA) discussed issues concerning GPA implementation and progress in accession negotiations. Parties also elected a new Committee chair, Mr William Westerveld Jensen of Norway. Read more
Heads of WTO, EIB sign landmark agreement to boost trade and investment
The WTO Secretariat and the European Investment Bank (EIB) Group signed a Memorandum of Understanding (MoU) on 4 March to enhance sustainable trade and investment worldwide. The agreement marks the beginning of a partnership that will leverage the EIB’s financial resources and investment facilitation tools developed under the Investment Facilitation for Development Agreement concluded by a large number of WTO members to improve the regulatory environment, unlock investment and expand opportunities for developing countries. Read more
WTO members consider new e-commerce proposal and previous submissions ahead of MC14
At a meeting on the Work Programme on E-Commerce on 3 March, WTO members considered a proposal to establish a Committee on Digital Trade as part of a draft decision on e-commerce for the 14th Ministerial Conference (MC14), which will take place from 26 to 29 March in Yaoundé, Cameroon. Members also continued discussions on the reinvigoration of the Work Programme and on the moratorium on the imposition of customs duties on electronic transmissions on the basis of two other proposals. Read more
WTO members review five regional trade agreements, discuss transparency issues
At a meeting of the Committee on Regional Trade Agreements (CRTA) on 3 March, WTO members reviewed five regional trade agreements (RTAs) involving Comoros, the European Union, Mozambique, Indonesia, China, Serbia, Kazakhstan, Azerbaijan, Türkiye and the Faroe Islands. They also reviewed other topics relevant to the Committee’s work under the Transparency Mechanism for RTAs. Read more
🌎 GLOBAL TRADE STORIES
Voice of Nigeria: Nigeria has intensified efforts to consolidate its leadership under the African Continental Free Trade Area (AfCFTA) while strategically positioning itself ahead of the 14th World Trade Organization Ministerial Conference. Read more
EU keeps U.S. trade deal frozen over tariff uncertainty
Financial Post: Top EU lawmakers on the parliament’s trade committee made the choice on Wednesday, saying they wanted more information from Washington about how it will preserve a 15 per cent ceiling on most EU products — a level both sides agreed to in last summer’s trade pact. Parliament initially halted ratification several days after the ruling. Read more
Business mobilisation grows to 189 chambers and associations backing WTO reform and Moratorium renewal
ICC: A growing number of chambers of commerce and business associations from around the world are urging governments to deliver concrete outcomes at the 14th Ministerial Conference of the WTO, as concerns mount over fragmentation in the global trading system. Read more
China exports surge despite Trump tariffs
BBC: Official figures show exports jumped by more than 20% in January and February, which is almost three times the rate predicted by economists. It puts the country on track to top the record-breaking annual trade surplus it saw in 2025. Read more
Indonesia to file suspension of concessions against EU on palm oil dispute in WTO
Reuters: Indonesia’s trade ministry said on Saturday that the government will file a suspension-of-concessions request against the European Union at the World Trade Organization’s (WTO’s) dispute settlement body, citing the block’s failure to meet a WTO ruling in a palm oil case. Read more
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