for Bloomberg: Caribbean Worried About Impact of Fines on China-Made Vessels by José A. Alvarado Jr.

News

for Bloomberg: Caribbean Worried About Impact of Fines on China-Made Vessels

josé a. alvarado jr.

May 22, 2025

Summary

Guyanese President Irfaan Ali said the proposed tax would adversely affect the regions oil and gas industries.

Caribbean Community (CARICOM) leaders will tell Secretary of State Marco Rubio next week that the US’s proposed fines on Chinese-made cargo vessels would hurt the region’s oil and gas industry as well as push up transportation costs, Guyana’s President Irfaan Ali said Saturday.

Ali said regional leaders discussed the issue in a virtual meeting on Friday held to plan for next Wednesday’s meeting with Rubio in Jamaica.

He said the US’s proposed tax on Chinese-made crude and gas vessels as well as other cargo ships would adversely affect the oil and gas industries of Guyana, Trinidad and Tobago, and Suriname.

“That, of course, will have an effect on the cost of goods coming into the region, also transport coming into the region,” Ali told reporters.

The fines on Chinese-made and Chinese-linked vessels would also increase the cost of imports to the Caribbean.

The US hopes to revive its shipbuilding industry by levying fines, through the US Trade Representative, on China-linked vessels.

Photographed for Bloomberg, with words by Denis Chabrol.

https://www.bloomberg.com/news/articles/2025-03-22/caribbean-worried-about-impact-of-fines-on-china-made-vessels

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José A. Alvarado Jr.

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