Burt: we can weather US tariffs
Bermuda’s record of navigating crises such as Covid-19 makes the Premier confident the island can weather any impact from protectionist trade moves by the United States.
David Burt said that while it might be premature to detail potential economic impacts from tariffs, the Government was considering all possible avenues on “the need for changes in the manner in which we do things”.
As he followed up on the 2025 Speech from the Throne, given on Friday, Mr Burt said: “We are doing our best to not only adjust but to be proactive in these measures.”
Speaking alongside Kim Wilkerson, the Attorney-General and Minister of Justice, Mr Burt said the island had been in touch with the British Government and its representatives directly engaging with US officials on taxes.
Under Donald Trump, the US has introduced tariffs on goods from strategic partners including Canada, Mexico and China — a move economists fear could drive up prices in the US and around the world.
Mr Burt said: “Uncertainty is never a good thing.
“For a country that has been through a significant challenge with cost of living, any fears or possibilities of increased costs again is not something that the Government would welcome.
“But I have confidence in the Government, in the public service, in our private sector working with us, and our overseas officials, who are liaising on these particular matters.
“And I know that we will be ready to face anything which may come.”
Mr Burt highlighted the island’s performance on changes in trade approaches by the European Union as well as the pandemic.
He said: “The Government knows how to handle these crises. We are going to be methodical, we are going to walk through it.
“We are not going to get ahead of ourselves, we’re going to plan for contingencies and to share information with the public when it is necessary to do so.
“We have been working with the different shipping agencies and others to make sure we are prepared for any changes which may come.”
Kim Wilkerson, the Attorney-General, said the Government will chart a course of legal and justice reform in the new legislative year, including:
• Reinstatement of the Law Reform Commission to ensure island’s legislative framework remains “robust, equitable and efficient”
• A comprehensive review of legal aid to uphold access to justice, improve efficiency and to ensure those who need legal representation receive it
• Introduction of a statutory framework for the compensation of wrongfully convicted people
• Full-scale review of the Children Act 1998 to ensure it aligns with modern best practices
• Amendment of the minimum age of criminal responsibility from 8 to 14.
• The fruition of the Domestic Violence Court
• Legislation to drop the termination of pregnancy from the criminal code
The Government plans during this legislative year to introduce measures to empower the Cost of Living Commission to “examine the books and records of all businesses involved in the supply of food and other essential goods”.
Mr Burt called it a necessary move and added: “It is essential that we are doing everything in our power to ensure that consumers are being treated fairly and that all segments of society are doing their part to ensure that Bermuda is competitive.”
He said the commission lacked the powers necessary to ensure that import duty breaks were passed on to consumers — or to prevent price gouging, whether at the transport, wholesale or retail level.
He added: “It is important for us to make sure we have that information. If you do not have that information, you cannot make those decisions.”
Mr Burt said the Government was determined to “use the power of law” to give the commission the power to look in to the matter and ensure residents “get a fair share”.
He added: “It is not just for the citizens of the country. Our business future and our international business future depends on us being competitive in an environment where 15 per cent is the new zero.”
With support from Ms Wilkerson, he said the measures would be enacted to avoid conflict with the Personal Information Protection Act or other legislation.
He added: “It is important that we understand the dynamics which are happening so that we can have the information so that the Government can take its necessary actions.
“Also to ensure that the sunlight of public scrutiny, which is often given to the Government, can also apply to persons who are involved in the supply of essential goods.”
The Premier said the cost of food in Bermuda had become “too high” and vowed more from the Government to tackle it.
“We must give the bodies responsible the requisite power to get that information, so that the people of this country could be treated fairly,” he said.
• To read the full 2025 Throne Speech remarks of David Burt, the Premier, see Related Media
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