The Cabinet held discussions on the policies announced by the US President on “Liberation Day” last Monday, with great fanfare. On Wednesday, however, the Cabinet learned that an agreement to suspend the implementation of the US Tariffs has been agreed for a period of ninety days. Meanwhile, finance markets all over the world in response to the increase in tariffs have begun shedding stocks and losing trillions of dollars. Antigua and Barbuda and other Caribbean countries were to have a ten percent tariff placed on the minuscule quantum of exports to the US; that too has been put on hold for ninety days. There is great chaos and confusion as a result of the uncertainty generated by the announcement on Monday, although many nations began planning defensive actions in order to limit the harm to their industries that export to the United States. No new word yet on the further tightening of sanctions against Venezuela and Cuba.
But several programmes utilizing credit from Venezuela on the purchase of petroleum are likely to be adversely affected by the new US trade embargo against Venezuela.
