PHILIPSBURG:--- In these times of global uncertainty, it is important that we address our community on how evolving international trade policies, especially renewed U.S. tariff measures, could affect our economic situation, food availability, and future growth plans.
Despite potential disruptions in essential goods flow from our key trading partner (U.S) because of the new tariffs, we must not succumb to fear but instead focus on the opportunity to adjust to the new reality of what is basically the reversal of globalization and improve our economic foundations. Our trade network extends beyond U.S. imports through connections with Europe, Latin America, and the Caribbean. This diversified trade profile gives us the ability to pivot toward alternative markets, unlock new supply channels, and foster innovation within our local industries. Now more than ever, we must expand and strengthen these relationships while turning our focus inward to boost local production, reduce dependency, and protect our economy.
I fully support the urgent call made by Prime Minister Mia Mottley at the recent CARICOM summit:
“Some of the things we import are offensive to an independent CARICOM. We must change our mindset… buy local, eat local, and support regional production.”
This is precisely why I will be moving forward with establishing an Agriculture, Livestock & Fisheries Agency (ALF) — a permanent body to support local farmers, encourage backyard and community farming, and create real, sustainable food systems and standards. With this Agency and the ongoing efforts of the Dutch Caribbean Agriculture, Livestock and Fisheries Association – DCALFA to enhance regional trade between the CAS & BES Islands and others nearby, the TIME is truly now. As I’ve said before:
“We cannot speak of true independence or sustainability while we depend entirely on others for what we eat. Agriculture is not just an option — it’s a necessity for our future.”
Additionally, I express my full support for the recent proposals for the establishment of a National Task Force to proactively assess and respond to the ripple effects of U.S. policy changes. The task force however must include our local distribution companies, and shipping companies, as we have already been in discussions with them. Their insights and expertise are critical to ensuring that our strategies are grounded in the realities of our supply chains.
“The establishment of this task force is critical,” MP Wescot-Williams recently stated. “It will serve as a strategic body to analyze and prepare for the ripple effects of U.S. policy shifts, particularly as they affect Small Island Developing States (SIDS) like St. Maarten.”
Complementing the formation of this task force, we must also tackle the complexities of our business environment. From licensing to banking and taxation, every administrative aspect requires modernization to create a more vibrant economic climate.
We understand that tariffs could trigger inflation through elevated costs of imported goods, reducing disposable income for families and businesses. Addressing this challenge will require pursuing flexible fiscal measures. However, there must be a balance with the potential fall in revenues. In this regard, discussions with the Central Bank are important to coordinate monetary policy and manage liquidity expectations to preserve financial stability and create conditions that allow citizens and businesses to maintain more disposable income.
Modernizing our business environment remains a central component of our strategic plan. We are actively establishing an extensive reform plan to make doing business easy on the island by addressing licensing challenges. Our goals are clear: reduce processing times, increase business registrations, and improve investor sentiment. However, to truly achieve a comprehensive simplified business environment would require banking and tax administration adjustments. Alongside these efforts, the creation of an Investment Promotion Agency (IPA) is on our agenda. The IPA will play a key role in streamlining regulatory procedures to attract new investments and reduce operational burdens for local entrepreneurs.
The proposed task force would cover:
• Monitoring U.S. policy developments,
• Strengthening communication within the Kingdom,
• Enhancing regional and international cooperation,
• Building resilience strategies across sectors, and
• Educating the public on global events that may affect our future.
This is a timely and necessary move, and I will consider actively supporting the formation and implementation of this task force alongside Parliament. It aligns perfectly with our broader vision of resilience, readiness, and long-term sustainability.
To the people of Sint Maarten: let us unite, innovate, and build an economy prepared to adapt to global shifts, ensuring every citizen and business enjoys enhanced financial resilience.
Together, we will protect our economy, nourish our people, and secure a bright and sustainable future for Sint Maarten.
