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Haiti - FLASH : Trump imposes 10% tariffs on Haiti 04/04/2025 09:54:46
This policy, designed, according to Trump, to stimulate American manufacturing, could have serious repercussions for the Haitian textile industry, which relies solely on duty-free access to the American market through trade agreements such as the HOPE (Haitian Hemispheric Opportunity through Partnership Encouragement) and HELP (Haitian Economic Lift Program) acts. It should be remembered that the textile sector, which has already lost nearly 40,000 jobs due to the security crisis https://www.haitilibre.com/en/news-44004-haiti-economy-the-garment-manufacturing-sector-has-lost-40-000-jobs.html , represents approximately 90% of formal employment in Haiti and is particularly vulnerable to new US tariffs. If costs are too high, there is a risk that companies will relocate their manufacturing to other countries, putting an end to the textile sector and the tens of thousands of jobs remaining in Haiti, warns international trade economist Jean-Pierre Louis. "We urgently need international cooperation and national reforms to stabilize the economy. The US tariffs will further complicate our recovery efforts," declared Alfred Métellus, Haitian Minister of Economy and Finance, to the Spanish news agency EFF. According to Pierre-Emmanuel Charles, an economic analyst at the Ministry of Economy, the tariffs could have a domino effect on the Haitian economy. "Textile workers spend their wages on local goods and services. If they lose their jobs, the entire economy will suffer the consequences, from street vendors to transporters." Economist Enomy Germain fears that Trump's decision will nullify the provisions of the Hope/Help Act. Not to mention that this economic war waged against the entire world will create inflation and a rise in the cost of living in the United States, which will affect the amount of remittances from the diaspora to families in Haiti. HL/ HaitiLibre
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