Caribbean Trade Law and Development

Tag: WTO

  • Caribbean Trade & Development News Digest – March 1-7, 2026

    Caribbean Trade & Development News Digest – March 1-7, 2026

    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

    Thank you for reading the Caribbean Trade & Development News Digest, a product of the Caribbean Trade and Development blog. If you found this edition useful, subscribe to our Blog to ensure you never miss a weekly update.

    Image by Gerd Altmann from Pixabay

  • Trade Year in Review 2024: Top 5 Trade Developments

    Trade Year in Review 2024: Top 5 Trade Developments

    Alicia Nicholls

    As 2024 draws to a close and we prepare to welcome 2025 in another week or so, it is time yet again to reflect on the defining trade policy developments that shaped these past twelve months. This year unfolded against a backdrop of persistent geopolitical tensions, an escalating climate crisis, and economic uncertainty. Yet, amidst these challenges, we also witnessed a resurgence in global trade growth, some landmark trade agreements, and other notable developments, including right here in the Caribbean.

    Here are my picks for the top five trade stories that left their mark in 2024.

    1. Global Trade Hits Record High Amid Uncertain Outlook

    According to UN Trade and Development (UNCTAD) in its latest Global Trade Update, global trade will surge to an unprecedented $33 trillion in 2024, surpassing its 2022 record, and growing by 3.3% over 2023 levels. This impressive growth was driven by a robust 7% expansion in services trade, offsetting the more modest 2% growth in merchandise trade, which remains below its 2022 peak. However, the growth pattern was uneven, with developed regions taking the lead in the third quarter.

    While UNCTAD predicts a positive start to 2025, it notes that potential escalation in trade wars, geopolitical instability, and the increasing adoption of industrial policies by major economies add layers of uncertainty.

     The World Trade Organization’s (WTO) latest G20 Trade Measures report highlights a notable uptick in trade restrictions and the proliferation of climate-focused support measures by G20 countries, underscoring the complex relationship between protectionism and sustainability.

    2. Barbados Hosts Inaugural Global Supply Chain Forum

    In May, Barbados made history by co-hosting the first-ever Global Supply Chain Forum with UNCTAD. This groundbreaking event convened global leaders, experts, and stakeholders to tackle the critical issues of sustainable and resilient transport and logistics in Small Island Developing States (SIDS).

    The Forum culminated in the adoption of the Barbados Ministerial Declaration, a pivotal contribution to the Fourth International Conference on SIDS (SIDS 4) held in Antigua & Barbuda shortly thereafter. As an attendee of both events, I would like to once again extend kudos to the organisers on two very well organised events which exemplified the Caribbean region’s role in contributing to global discussion and action on key trade and development issues.

    3. WTO Director-General Ngozi Okonjo-Iweala Secures Second Term

    In November, World Trade Organization (WTO) Director-General Dr. Ngozi Okonjo-Iweala was appointed by the General Council via consensus to a second four-year term starting September 1, 2025. Her leadership comes at a critical juncture, with the WTO navigating legacy reforms and heightened trade tensions. Dr. Okonjo-Iweala’s four-year vision encompasses a WTO that delivers results, modernises to remain relevant, and capitalises on emerging trade opportunities. Her agenda includes finalising agreements on the outstanding agenda of the fisheries subsidies agreement (Fish 2) and Investment Facilitation for Development and preparing for the 14th Ministerial Conference (MC14) in Cameroon in 2026.

    4. Landmark Trade Agreements and Ongoing Negotiations

    This year saw several landmark trade agreements. The European Union and four Mercosur countries (Argentina, Brazil, Paraguay, and Uruguay) finalized a historic deal after 25 years of negotiations. This agreement promises to deepen economic cooperation and includes provisions addressing deforestation concerns, a contentious point during talks.

    In November, Costa Rica, Iceland, New Zealand, and Switzerland signed the Agreement on Climate Change, Trade, and Sustainability, setting a precedent for integrating climate and sustainability goals into trade agreements. Meanwhile, the African Continental Free Trade Area (AfCFTA) launched its operationalization phase with five key instruments adopted, marking a significant leap for intra-African trade.

    Closer to home, Trinidad & Tobago and Curaçao advanced negotiations on a partial scope agreement, expected to conclude in 2025.

    5. Donald Trump’s Re-election and Its Trade Implications

    Campaigning on promises of reshoring manufacturing and imposing hefty tariffs, incoming US President Donald Trump’s second term is poised to once again reshape U.S. trade dynamics. He has already threatened more tariffs on China, as well as tariffs on its US-Mexico-Canada (USMCA) free trade agreement partners: Canada and Mexico. Increased US tariffs on imports from its major trading partners, and retaliatory tariffs by these trading partners could signal potential disruption to the global trade landscape.

    Trade analysts are bracing for ripple effects, including retaliatory measures and a potential pivot toward greater unilateralism. The implications for the multilateral trading system and global economic stability will undoubtedly be profound, making this a development to watch in the coming months.

    Looking Ahead

    At the CTLD Blog, we remain committed to delivering insights on the evolving trade landscape. As we bid farewell to 2024, I extend my heartfelt gratitude for your readership and engagement throughout the year. Here’s wishing you and your families a joyful holiday season and a prosperous 2025. Stay tuned as we continue to unpack the stories shaping global trade in 2025!

    Alicia Nicholls, B.Sc., M.Sc., LL.B. is an international trade and development specialist and the founder of the Caribbean Trade Law and Development Blog: www.caribbeantradelaw.com.

  • WTO Thirteenth Ministerial Conference: What’s at stake?

    WTO Thirteenth Ministerial Conference: What’s at stake?

    Alicia Nicholls

    All eyes of the trade policy world will be on the United Arab Emirates’ glistening capital city, Abu Dhabi, for the World Trade Organization (WTO)’s Thirteenth Ministerial Conference (MC 13) taking place February 27-29, 2024. Under the chairmanship of His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, WTO members’ trade ministers and other delegates will discuss several key priority areas in hopes of securing a substantive package of outcomes which reinvigorates some confidence and strength to the WTO and the rules-based multilateral trading system which it oversees. This article takes a broad look at some of the major issues being discussed.

    Unlike other major multilateral organisations, the WTO is run by its members. Its highest decision-making body, the Ministerial Conference, comprises all of its members and meets every two years. The main exception to this was the four-year lag between the Buenos Aires Ministerial (2017) and Geneva Ministerial (2022) due largely to the COVID-19 pandemic.

    Similar to the run-up towards the last ministerial (MC 12), pressure exists for achieving concrete outcomes from this Ministerial Conference. Public commentary leading up to the ministerial has ranged the gamut from optimistic to pessimistic, especially since some issues like the TRIPS Waiver extension and agriculture appear far from reaching consensus. Significant discussions and preparatory work by delegations leading up to MC13 seek to ensure, however, that the pessimists are proven wrong. Indeed, ever-optimistic, the WTO’s formidable Director-General, Dr. Ngozi Okonjo Iweala is quoted as stating ““You know it’s always very difficult and seems like it’s not going to work…But we never say never. We are going to get it done.”

    Two new accessions

    On the bright side, the WTO will see two new accessions – Comoros and Timor Leste, the first since 2016 and which will bring its membership from 164 currently to 166. Both Comoros and Timor Leste are least developed countries (LDCs) and small island developing States (SIDS), emblematic of the importance small States in particular attach to the rules-based multilateral trading system despite its flaws. Some twenty-two other countries or separate customs territories are presently in the accession process. This lends credence to the argument that despite its shortcomings, countries still see WTO membership as desirable.

    Fisheries Subsidies Agreement

    Securing the entry into force of the Fisheries Subsidies Agreement, which was adopted at MC12 in 2022, is one priority area, as well as the second round of negotiations under that Agreement. The Agreement establishes binding multilateral rules seeking to discipline harmful fisheries subsidies which have been detrimental to the world’s fish stocks. The Agreement requires two-thirds of the WTO’s membership to deposit instruments of acceptance. Barbados, Dominica and Haiti recently deposited their instruments of acceptance this month. Indeed, Barbados’ Ambassador Matthew Wilson shared a video entitled “The Barbadian Matriarchy of Fishing” to highlight the importance of supporting small-scale and artisanal fishing in Barbados.

    E-commerce moratorium extension

    In place since 1998, the long-standing agreement among Members against imposing customs duties on electronic transmissions is due to expire unless Members agree once again to extend it. This e-commerce moratorium has been controversial as some countries argue that it has been critical for a smooth environment for digital trade. However, some developing countries are concerned about foregone customs revenue.

    Trade and development

    Development-related issues are also key on the agenda, particularly how to operationalize the development flexibilities – Special and Differential Treatment – within the WTO’s agreements. In December 2023, WTO members agreed on a draft decision to be submitted to trade ministers for approval at MC13 on further integration of small economies into the world trading system. Additionally, in January 2024, the Plastics Pollution Dialogue, comprising 76 WTO Members, reached agreement on a ministerial statement to be issued at MC13.

    Incorporation of JSI outcomes into WTO rulebook

    Since the stalemate of the Doha Development Agenda, some WTO members have turned to joint statement initiative discussions as a way to advance rule-making in the WTO in the areas of e-commerce, MSMEs, investment facilitation for development and domestic regulation in services trade. The JSI discussions have been criticized by some members, most prominently India and South Africa, as ‘illegal’ and lacking a formal mandate for the discussions. As such, the recently concluded Investment Facilitation for Development (IFD) Agreement’s incorporation as a plurilateral agreement under Annex 4 of the Marrakesh Agreement remains fraught. It would require consensus, including support from non-parties to the Agreement and from countries which oppose the JSI process. Six CARICOM Member States (Antigua & Barbuda, Barbados, Belize, Dominica, Grenada, Suriname) participated in the IFD Agreement negotiations and are among the 118 WTO members which support the Agreement.

    WTO Reform

    WTO reform has been an important agenda item, but the Doha Development Agenda stalemate and the Appellate Body crisis have reiterated the need to reform the institution’s dispute settlement function. A draft text on dispute settlement reform has elicited much discussion but there appears so far to be no way forward for the resumption of a two-tier system.

    Lots at stake

    Interestingly, the WTO’s MC13 will be taking place at the same time as the 46th Regular Heads of Government Meeting in Georgetown, Guyana, opening on Sunday, February 25. However, it is expected that at least some of CARICOM’s trade ministers will be at MC13, especially given the nature of the issues being discussed.

    In conclusion, there is a lot riding on MC13. MC13 cannot be divorced from the economic and political context in which it is occurring. For example, the fact that this is a ‘mega-election’ year with elections due in major countries, such as the US and India, for example, mean that there is added pressure on delegations to ensure that MC13 outcomes deliver for their own citizens and are politically palatable for their electorate. It is hoped that whatever the outcomes, they help to strengthen, revitalise and restore some confidence to an institution which, though not perfect, is indispensable for global trade and the wider global economy.

    Alicia Nicholls is an international trade consultant and founder of the Caribbean Trade Law & Development Blog www.caribbeantradelaw.com.

  • OECS WTO members underwent 4th WTO Trade Policy Review this week

    OECS WTO members underwent 4th WTO Trade Policy Review this week

    Alicia Nicholls

    On May 3-5, 2023, the World Trade Organisation (WTO) completed its fourth review of the trade policies and practices of the six Organisation of Eastern Caribbean States (OECS) WTO members. These are Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines. The OECS delegation was led by the Honourable Everly Paul Chet Greene, Minister of Foreign Affairs and Trade of Antigua and Barbuda, and Chair of the OECS Council of Ministers of Trade. The discussant was Her Excellency Ambassador Nadia Theodore, Permanent Representative of Canada to the WTO.

    WTO members, meeting as the Trade Policy Review Body, reviewed the WTO Secretariat’s Report and the reports from the Governments of those six countries. During the meeting, WTO members had the opportunity to seek clarity from the OECS delegation on various issues relating to their trade policies and practices. The Chairperson’s concluding remarks stated that 24 delegations had taken the floor over the two-day meeting and 169 advance written questions from 12 delegations had been submitted for the review.

    According to the chairperson’s concluding remarks, the OECS members were applauded for “the constructive role that the OECS-WTO Members play in the multilateral trading system” despite their small size. They also received praise for their open trade and investment regimes and strong support of environmental action. However, major concerns raised surrounded implementation of commitments under WTO agreements and the backlog in compliance with their WTO notifications. It was pointed out in the Secretariat report that this was likely because of capacity constraints and the fall-out from the COVID-19 pandemic.

    The OECS is a regional intergovernmental organisation and subregional integration movement in the Caribbean region which was formed in 1981 with the signing of the Treaty of Basseterre, subsequently revised. All OECS members are members of the Caribbean Community (CARICOM). Besides the six members mentioned (all six are sovereign States), it also includes a non-sovereign full member, Montserrat. These full members are part of the Eastern Caribbean Currency Union (ECCU) and therefore share a common currency, the Eastern Caribbean dollar. Its associate members are non-sovereigns: British Virgin Islands, Anguilla, Martinique and Guadeloupe.

    The TPR reports are made publicly available and are a rich source of information for trade analysts and potential investors of a country’s trade policies and its general trading and macroeconomic environment. The TPRB chairperson’s concluding remarks are released shortly after. The minutes of the meeting, as well as members questions, are also released about six weeks after the conclusion of the review.

    You can read the report and other documents here.

    Alicia Nicholls, B.Sc., M.Sc, LL.B. is an international trade specialist and founder of the Caribbean Trade Law and Development blog http://www.caribbeantradelaw.com.