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VI to diversify food imports amid looming US trade tariffs war- Premier Wheatley
This, according to Premier and Minister for Finance, Dr the Honourable Natalio D. Wheatley (R7), during the House of Assembly (HoA) session on February 13, 2025, as he acknowledged the need for a strategic shift to stabilise the cost of a basket of goods in the territory.
Alternative Trade Partners
He noted that with the increasing likelihood of US-imposed tariffs—part of what analysts predict could escalate into a full-blown trade war under US President Donald J. Trump’s administration—the Virgin Islands must explore alternative markets to ensure food security and affordability.
"This is a part of the reason we want to go to the Dominican Republic; I think we have to explore some markets outside of the United States, establish partnerships outside of our partners in the United States,” he disclosed.
According to the Premier, the Dominican Republic is a significant food producer. He said, "Probably some of that same food that goes from the Dominican Republic to Miami would come across to us back in the Virgin Islands.”
Beyond the Dominican Republic, the Premier pointed to other regional sources such as Guyana, Dominica, and St. Vincent.
Guyana, in particular, he observed, is known for its large-scale agricultural production, and securing partnerships with the CARICOM bloc of nations—of which the VI is an Associate Member—could provide a more cost-effective and sustainable supply chain for the Virgin Islands.
"We are securing partnerships with these countries and I believe that we'll be able to secure a basket of goods from outside of the United States,” Premier Wheatley told members.
Developing VI’s agricultural & fisheries sector the long-term solution- Premier
He added that while diversifying food imports is necessary, the ultimate long-term solution lies in developing the territory’s agricultural and fisheries sectors.
Responding to concerns raised by Hon Myron V. Walwyn (R6) regarding the impact of US tariffs on food prices—particularly referencing the Premier’s ‘Basket of Goods’ initiative—Premier Wheatley agreed that urgent action is needed to increase local production.
"This is why we have to put in the necessary investment to build the agricultural and fisheries industry,” Dr Wheatley said.
He also used the occasion to stress that waiting until crises occur—be it natural disasters, pandemics, or trade wars—is not a sustainable approach.
"We’ll never be able to build our agriculture and fisheries industry overnight in response to some sudden crisis; So when we're not in crisis, that's when we have to make the investments,” he told members.
The Premier also expressed dissatisfaction with the current pace of progress, and candidly said more needs to be done with urgency and commitment.
He as such committed to push those responsible for implementing agricultural development plans, pledging, "I am going to be lighting a fire, so to speak, upon everyone responsible for implementing what is a very clear vision for agricultural production.”
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19 Responses to “VI to diversify food imports amid looming US trade tariffs war- Premier Wheatley ”
Again you hear talking sh*t, you ain't say a word about helping we local farmers. Now you will be in our face about fishers/farmers come next mo th what a bunch of lunatics we call leaders. You already see what you personally will gain from Guyana????????, Santo Domingo so carry on Sloman
BVI dont have no use for the mingos or Guyanese. Thiught we were beneath youall. What have we benefited feom the high level Guya a trip with so.many delegates? I have a shop, but where is the information youall brought back to help others get links for possible suppliers.
Inarguably, the region has a need to import food to meet domestic as well as tourism industry needs. Nevertheless, to the maximum extent possible and practical, more effort should be exerted to reduce the food import bill. This effort will help put a dent in reducing food insecurity, reducing unemployment, creating a multiplier effect in regional economies, reducing regional food import bill, producing healthier food , etc.
Moreover, a large % of imported food is laden with high and unhealthy fat, salt, sugar, high calories,,etc. Free and voluntary trade with regional countries for more of the region’s food needs has a net positive for the region.
Regional countries with a comparative advantage in producing food should be imported from, though some countries may have an absolute advantage in doing so. These countries for the most part should produce what they have a comparative advantage and import what else they need. True, the production cost for producing food overseas may be less than local production cost. But what is best for the region, ie, buying local or buy outside the region? Local farmers should be assisted in producing more locally.