BASSETERRE, Saint Kitts, April 03, 2025 (SKNIS) – Prime Minister, the Honourable Dr. Terrance Drew, has stated categorically that Saint Kitts and Nevis has a significant trade deficit with the United States of America, a factor that should be carefully considered before trade measures are imposed on the nation. This statement follows the United States’ recent decision to impose a 10 percent tariff on imports from Saint Kitts and Nevis, as well as similar rates on other Caribbean nations.
“The United States benefits much more from trading with the Caribbean region than the Caribbean region does with the United States of America,” said Prime Minister Drew during the April 02 edition of The Roundtable. “Unlike other regions which have a surplus with the United States in terms of trade, such as Canada and Mexico, we have a deficit.”
Figures provided by the Comptroller of Customs reveal that in 2024, Saint Kitts and Nevis imported a total of $754,029,809 EC dollars’ worth of goods from the United States. In contrast, the country’s exports to the U.S. amounted to just $23,901,046.15 EC dollars. This results in a deficit of almost three-quarters of a billion dollars between the two nations.
Prime Minister Drew also highlighted the broader context within the Caribbean Community (CARICOM), where the region collectively faces a $54 billion trade deficit with the United States. The prime minister emphasised that this imbalance not only impacts Saint Kitts and Nevis, but also the wider Caribbean, making the proposed tariffs an additional burden on small island nations.
Saint Kitts and Nevis remains steadfast in its position that the evidence clearly demonstrates the need for a more balanced trade relationship.
“Saint Kitts and Nevis has a strong case to make when it comes to tariffs. The evidence shows that we don’t deserve these tariffs, which could increase the cost of living for our people,” said Dr. Drew.
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