The Government is looking at trade partnerships outside of the United States in light of proposed moves by US president Donald Trump, which could severely impact the island.

David Burt, the Premier, said the US Ships Act, which would increase port fees for vessels built in China such as the MV Oleanderwas a matter of serious concern.

“If implemented without exemptions or consideration for the unique circumstances of small islands like ours, these measures would impose significantly higher port fees on ships that supply Bermuda, including the MV Oleander, which is a major link to our supply chain,” Mr Burt said.

“This would result in higher prices for food, fuel, vehicles and other essential goods.”

Mr Burt said that in recent weeks he had talked directly with the US State Department about the economic impact the actions would have and the consequences for not only Bermudians, but US citizens living in Bermuda and the American businesses that supply the island.

“We have also engaged with Caricom leaders who are working to reduce food costs through regional self-sufficiency and expanded food and energy production,” he added.

“We also met Canadian officials to discuss the viability of re-establishing our shipping relationship with them as an option.

“We are exploring all possible contingencies to maintain the continuity of our supply chain to shield Bermudians from further increases in prices.

“We are taking these actions, guided by the wisdom that while we hope for the best, we must prepare for the worst and be ready to act in the best interest of our island home.”

Mr Burt said the Government was aware of the pressure many families were under and would continue to work to provide relief.

“Five years ago, when global events threatened the livelihood of Bermudians, we took action, and have no fear, your government will do so again,” Mr Burt said.

“This government will continue to engage directly with our international partners and explore every available option to ensure that Bermuda and Bermudians are protected from the impact of these potential changes.

“We remain committed to doing what is necessary to preserve stability, address the cost of living, and continue delivering a fairer Bermuda for all of us.”