NewsThe Caribbean Community Private Sector Organisation (CPSO) has estimated that CARICOM Member States could achieve annual savings of US$1.3 billion by diversifying their import sources away from the United States, particularly as escalating reciprocal tariffs increase costs and expand the regional trade deficit. CPSO CEO and Technical Director, Dr. Patrick Antoine, presented findings from a comprehensive study revealing troubling trends in the Region’s goods trade deficit with the United States. The deficit increased by approximately US$200 million between 2022 and 2023, followed by an additional US$300 million increase from 2023 to 2024. Projections indicate a further US$500 million expansion between 2024 and 2025, even without considering the tariff impacts. The new tariff regime, imposing 10% to 15% duties on previously duty-free goods, will drive costs upward by a significant degree.