Economist praises govt’s response to tariffs

A respected economist has praised the government’s “skilful strategy” in dealing with the global trade war over tariffs and shifting alliances among the world’s largest economies.

Professor Justin Robinson–who serves as the Director of the Central Bank of Barbados and Pro Vice-Chancellor of the University of the West Indies–says the island has adopted a sensible approach by staying below the radar while quietly working to diversify its trade relationships and strengthen economic resilience.

“I think the Barbados Government has been playing it quite wisely,” he said on Wednesday during a JMMB-hosted forum on the impact of tariffs on Caribbean economies.

“When you have elephants fighting, then the grass gets damaged. You really want to stay below the radar, you don’t want to attract any undue attention to yourself. I think that’s been quite a skilful strategy,” said Robinson, who is also a senior lecturer in finance.

He further highlighted Government-led efforts to deepen trade links with Africa and to introduce digital payment infrastructure—two moves he believes are crucial as global commerce becomes increasingly digital and multipolar.

“I think the strategies to prepare us for this have been around and there have been attempts to implement them,” he said.

“But because we’ve been very comfortable with the status quo, they have been seen maybe as things that are nice to have. In new circumstances, [however], these are things that we must do.”

Robinson said that global supply chain fragmentation, increased protectionism, and currency volatility are pushing countries—particularly small, import-dependent ones like those in the Caribbean—to make hard decisions about trade, resilience, and digital modernisation.

He said the Caribbean cannot afford to delay action, since “I don’t see how you can have empty shelves in Miami and you don’t have empty shelves in the Caribbean. I think one follows the other.”

Robinson’s remarks were part of a wider discussion on how the region can survive and adapt amid rising trade tensions between the United States and China, and in the light of global shifts towards regional economic blocs and non-dollar transactions. (SM)