THE Bahamas has “dodged a big bullet” and potential 25 percent inflation hike, Super Value’s owner has asserted, after shipping to this nation was exempted from the $1m per US port call fee on Chinesemade ships.
Rupert Roberts and multiple other Bahamian business executives
yesterday told Tribune Business that this country and the wider Caribbean have been “saved from economic catastrophe” after the US Trade Representative’s Office responded to overwhelming push back by eliminating the planned fee for vessels involved in “short sea shipping” to this region.
The move, which removes the threat of “almost double current freight rates” to The Bahamas compared
Restaurant owner: Stop ‘treating us like criminals’
By FAY SIMMONS
A BAHAMIAN restaurant proprietor has voiced frustration over what he alleges was heavy-handed and “aggressive” behaviour by Immigration officers when they conducted checks on his business.
Peter Maury, owner of the Green Parrot restaurant, complained on social media that officers were “very rude” to his staff while conducting a routine check at the establishment. Speaking subsequently to Tribune Business, Mr Maury maintained he has no difficulty allowing Immigration officers and other law enforcement authorities to conduct searches and checks of his business, but argued that this should be done as sensitively as possible especially when customers are present.
“It seems like the new MO (modus operandi) of this government is to harass Bahamian businesses. They come in the middle of the night. I mean, this happened after COVID,
this happened with the Maritime Task Force, they always trying to start trouble for people,” said Mr Maury.
“It’s not normal that they should just come in and treat us like criminals. We’re in complete compliance. I paid my Business Licence. I’ve paid my NIB; everything is up to date. I don’t know who sends them. It doesn’t really matter, but, it’s just typical.
“If they’re coming in to check the business, fine, we’ll welcome him in. But some people take their authority above and beyond. The officer was very rude and there is no
to existing shipping prices, was hailed by local private sector representatives as “just absolutely perfect” and “couldn’t have come at a better time” for businesses, consumers and the wider economy given that it coincided with the Easter holiday.
Robert Sands, Baha Mar’s senior vice-president, told this newspaper that the US climb down will have a “very significant” positive impact for The Bahamas’
largest industry since hotels, in particular, would have been especially hard-hit if the fee was implemented as originally proposed given that resorts import as much as 85 percent of their inputs - especially food and beverage - from North America.
And Chris Lleida, chief executive of Premier Importers, the building materials supplier, said The Bahamas had escaped
SUPER Value’s owner is voicing optimism that the supermarket chain has “held back inflation for the rest of the year” through to January 2026 by forward buying the products that generate the “bulk” of sales.
Rupert Roberts told Tribune Business that the 13-store group has targeted the 20 percent of products that make-up 80 percent of its sales for bulk purchases in advance so that it can lock in key commodity prices amid ongoing global economic uncertainty sparked by
Donald Trump’s trade and tariff policies.
“I don’t see any inflation coming down the pike and we’ve taken extra precautions,” he revealed. “We’ve gone ahead and locked commodities through the end of this year through January next year to hold back inflation.
BAHAMIAN tourism faces “critical challenges” to achieving its projected 4.5 percent annual growth rate over the next decade through 2034 due to multiple workforce and infrastructurerelated impediments.
The Inter-American Development Bank (IDB), unveiling a $330,000 project where the cost will be split 50/50 between itself and the Government, disclosed that - while tourism’s contribution to Bahamian gross domestic product (GDP) is forecast to grow by more than $3bn or over 50 percent during the ten years to 2034 - there are numerous impediments to the sector and country realising this potential.
Climate change, cost competitiveness and changing visitor demographics and demand were just some of the hurdles identified by the IDB which, in conjunction with the Ministry of Tourism, Investments and Aviation, will study “inbound tourism” flows across The Bahamas’ major island destinations to help determine where infrastructure and workforce development resources need to be concentrated.
“Tourism is the cornerstone of The Bahamas’ economy,
We’re guaranteeing existing prices now through January; anything that we bring into the warehouse.
“Twenty percent of the items represent 80 percent of the sales, so those are the items we have gone ahead and purchased with pallet and container loads. The bulk of the volume
significantly contributing to GDP, employment and foreign exchange earnings,” an IDB paper seen by Tribune Business states. “In 2024, the sector’s total economic contribution is estimated at $6.1bn (43.8 percent of GDP), with projections rising to $9.2bn (60.8 percent of GDP) by 2034.
“The industry is also a major employer, with 131,300 tourismrelated jobs expected by 2034, reinforcing its impact on economic stability and workforce development. With a compound annual growth rate (CAGR) of 4.5 percent from 2024 to 2034, the sector is set for steady expansion, driving higher visitor spending, economic contributions and industry growth.
“This sustained momentum will strengthen The Bahamas’ global competitiveness, solidifying its position as a premier travel destination. However, the sector faces critical challenges, including shifting visitor demand, infrastructure and workforce constraints, climate vulnerabilities and the need for enhanced competitiveness to ensure longterm sustainability.”
Acknowledging the Ministry of Tourism’s strategy to develop all 16 inhabited Bahamian islands as brands or destinations in their own right, each appealing to different market niches, the IDB paper added: “To address these challenges, the Bahamian government has designated 16 distinct island destinations, each with unique tourism assets,
we’ve covered, and we think we’ve held back inflation for the rest of this year. We hope that’s the way it goes.”
Anticipating the trade and tariff war that has now erupted between the US and China, with both levying triple-digit border tariffs on imports from the other, Mr Roberts said one of the first items that Super Value “locked in” via bulk purchases was butane gas cannisters.
“We import all of our butane gas from China,” he added. “Some people don’t have the big butane stoves and use the little cans. We sell hundreds of them a day, little cans of butane gas. We’re buying containers out of China, a lot of merchandise out of China. They were the first purchase orders we locked in through January.” Mr Roberts likened purchasing bulk food
THE NATIONAL Fisheries Association’s (NFA) president is estimating that the crack down on compressor use postcrawfish season has reduced the amount of fish available for Easter by “at least 75 percent”.
Keith Carroll told Tribune Business that the volume of fish being sold over the holiday weekend was “way down” compared to prior years and said it was very telling that last Thursday he “drove straight through Potter’s Cay” while encountering little to no traffic at a time when the destination would normally be packed with persons making Easter purchases.
He attributed the decline to the police and maritime authorities’ enforcement of the ban on using compressors to dive outside of crawfish season, which recently closed on March 31. Fishermen, Mr Carroll added, simply do not want to risk being caught, and their boats seized and themselves being hauled before the Magistrate’s Court to face fines or other punishment.
As a result, fewer boats headed out before Easter to catch snappers, groupers, jacks and other fried fish that are soughtafter by Bahamians for the holiday weekend. “I know there is not much fish in town,” Mr Carroll told this newspaper. “I don’t think it’s going too good because there is not much fish in town.
“What’s in town is selling, but there is not much fish here. When crawfish season closes on March, then it becomes illegal to
TRAVELLER SECURITY STRENGTHENED VIA $2.2M SCREENING EQUIPMENT
By ANNELIA NIXON
NEW security screening equipment worth more than $2.2m has been commissioned at Lynden Pindling International Airport (LPIA) in a bid to strengthen and improve traveller safety.
Wayne Munroe, minister of national security, said the equipment has undergone a “successful” two week trial run following its installation through a partnership between the Airport Authority, which remains responsible for safety and security at LPIA, and Sectus Technology.
“Let me say how pleased I am to be here as a part of this ‘red letter day’ in airport security as we usher in a new era of safety and security with this state-ofthe-art security equipment valued at over $2.2m,”
Mr Munroe said. “This Davis-led administration is resolute in working to ensure that this gateway from The Bahamas to the United States of America meets higher safety standards while simultaneously upholding international airport protocols.
“Through collaborative efforts between the
Ministry of Tourism, the Airport Authority and the [US] Transportation Security Administration, the massive venture was explored and undertaken. Towards this end, the Government of The Bahamas made this capital contribution for the purchase of the high scan system and RNS security screeners to be used at LPIA. The successful two-week trial ran at the US checkpoint until yesterday, and today we are here for commissioning.”
Paul Bevans, the Airport Authority’s chairman, said the new machines allow for safer, quicker screening and processing for passengers. “The Airport Authority entered into
John Watling’s partners to restore Water Battery
JOHN Watling’s Distillery has teamed with the Antiquities, Monuments & Museums Corporation (AMMC) to help give one of Nassau’s oldest landmarks a fresh look.
They are hoisting and removing the four cannons known as the Water Battery on Long Wharf for restoration before repositioning them at the popular beachfront site.
“This is an historic moment for Nassau and for The Bahamas as we take the first step in a journey of restoring these historic cannons,” said Pepin Argamasilla, John Watling’s Distillery co-founder.
“John Watling’s Distillery is proud to partner with the Antiquities, Monuments & Museums Corporation to bring these aging cannons back to life and shed light on the story of why they were placed at the waterfront when Nassau was a frequent target of attack.
“It’s a fascinating story that we need to tell as we
strive to build a better experience for our visitors, and to deepen the pride of culture shared by our citizens and residents.” According to historic records, while the battery dates back to the late 1700s, the cannons go back to Victorian times. Their placement at Long Wharf, officially known as the Water Battery, occurred during the 1850s.
“We believe the cannons have been untouched at this location for about 50 years, though they were transported to Nassau from the United Kingdom in the 1850s,” explained Dr Grace Turner, AMMC executive director.
“In the 1840s and 1850s, the Spaniards came from Cuba. The British, who had settled in America, came from there. Nassau was a regular target for those on the trade routes who did battle with one another. The Spanish burned down the city in 1684. Then they occupied Nassau between 1782 and January 1783.
a contractual agreement with Sectus Technology to provide security screening equipment for the LPIA US checkpoint we have here,” he said.
“Equipment was purchased from Smiths Detection. Our team worked tirelessly, along with the team from Sectus, to establish what we again have here. These new machines are the state-ofthe-art, allowing visitors and locals to move through security screening and be processed; not only safely but quickly. And this will definitely improve the travelling experience, with safety still at hand.
“And I would just say that when we started this,
Nassau was invaded again, twice, during the American War. These cannons have a very long history and it will be exciting to see them restored.”
The restoration effort includes replacing concrete pad platforms with authentic caissons and travelling forges that allow a cannon to be limbered, or moved, turned and faced in the direction of its target.
“John Watling’s is proud to partner with AMMC to bring this fascinating piece of history back to life,” said Jose Portuondo, the Distillery’s co-founder. “There were those who thought we were crazy to take a property that had seen better days, located off the beaten path, and turn it into a tourist attraction. But we did it.
“Buena Vista Estate, home of John Watling’s Distilllery, was built in 1789 and has never looked better than it does today where hundreds enjoy the grounds and the experience every day. When we tell the story of historic Nassau in a way that entertains as well as explains, it’s a winning combination. We are proud to be part of that formula with AMMC.”
when this was initiated a few weeks ago, I got calls from persons from tourism who were travelling back. They were saying: ‘This line out here’s a mess. What’s going on? It’s worse than Thanksgiving.’ And you know what happens during Thanksgiving. And then, 20 minutes later, she called me and she say: ‘It’s okay. You know, I’m upstairs.’ So, obviously, this stuff works.
“I called Keith [Mackey], and I said: ‘What’s going on?’ He said: ‘Chair, it’s just moving through. And our friends at CBP, they moving the crowd, and everything just started flowing.’ Which is good. I was travelling that same morning, and I sat next to two visitors, and I
asked them: ‘How was the process coming through?’ They say: ‘Oh, it’s easy.’ He got through in 15 minutes. So I know that this works, and I just want to compliment the team with the work that they did.”
Kimberly Furnish, charge d’affaires at the US embassy in Nassau, said the new equipment “marks another milestone in the enduring partnership between the United States and The Bahamas”.
“This allows travellers to clear US Customs and Border Protection here before they board their flight,” she said. “It’s faster, it’s more convenient and, most importantly, it makes both Bahamian and American travellers safer.
“Why does it matter?
Travellers arrive in the United States as domestic passengers, no long immigration lines and baggage checks. Screening takes place before take-off, strengthening aviation and border security. Nassau is now one of the busiest and most advanced pre-clearance locations in the region, and it’s about to get even better.
Cornish,
thanked John
for its sponsorship. “Today is a first step,” he said, “as this crane lifts off these historic monuments, but
most important is what lies ahead. AMMC is especially appreciative of John Watling’s for taking on the responsibility of restoring and maintaining the cannons as part of its commitment to sharing the
“What’s the impact? These improvements stop threats before they reach our shores. They reduce wait times, and they protect the millions of Bahamian and American citizens who travel between our countries every year. This is what a strong partnership looks like. Together, we’re investing in secure, modern screening systems.
“The Bahamas’ decision to work with trusted vendors and meet global privacy and security standards strengthens both of our safety and sovereignty. Looking ahead, TSA is working with Airport Authority, NAD and the CAA on a new designation, making Nassau a ‘no hassle’ last point of departure,” she continued/
“This will allow all US checked bags to be fully cleared here, speedier transfers and improving the traveller experience in the United States. We also look forward to supporting airport improvement projects across the Family Islands through the Airport Renaissance Project.”
“Thanks to close collaboration between TSA, the Airport Authority, and the Bahamas Civil Aviation Authority, new state-of-theart screening equipment is now in place. The US and Bahamas worked side by side for two years to optimise checkpoint efficiency, which resulted in upgraded threat detection capabilities just in time for peak travel season,” Ms Furnish added.
remarkable and engaging story of the history of The Bahamas.
“Every day thousands of visitors walk by this site and, in the future, they will take a greater interest and have a new respect for the City of Nassau.” Located on Delancy Street, John Watling’s Distillery offers historic tours, food, beverage, retail and a personal rum bottling experience. It’s ten year-old bullion rum was awarded a ‘gold medal’ in 2024 by Monde Selection in Brussles, Belgium.
FAO’s new Bahamas chief undertakes agriculture tour
THE United Nations’ Food and Agriculture Organisation (FAO) has appointed Dr Ana Touza as its new representative for Jamaica, The Bahamas and Belize.
A rural sociologist and gender specialist, Dr Touza has more than two decades of experience in international development, with a background in research, policy and programme implementation across Latin America, Africa and the Caribbean.
The newly-appointed FAO Representative recently conducted her first official mission to The Bahamas, reinforcing the organisation’s commitment to strengthening national efforts in food security, sustainable agriculture and climate resilience.
During her visit from March 30 to April 4, Dr Touza held a series of strategic meetings with senior government officials and development partners, with a focus on enhancing co-operation across key sectors. High-level discussions included a courtesy call with the Ministry of Foreign Affairs and a meeting with Jomo C. Campbell, minister of agriculture and marine resources.
She also held a meeting with the Forestry Unit of the Ministry of Environment and Natural Resources, where discussions centred on FAO’s technical support to advance climate resilience and sustainable forest management. A key outcome of this partnership is the preparation of a strategic framework to reduce deforestation and forest degradation, supported by the Green Climate Fund, in response to mounting drought and wildfire risks.
In a meeting with representatives of the Chinese Embassy in The Bahamas, Dr Touza explored opportunities to scale up co-operation under the China South-South Cooperation Project, which supports local poultry and egg production. The initiative aligns with national goals to reduce food import dependency and address rising costs in the sector, while strengthening local capacities and livelihoods.
Dr Touza’s toured agrifood production sites on the island of Eleuthera, facilitated by the Ministry of Agriculture and Marine Resources, which gave firsthand insight into local innovation and challenges
within the agricultural sector. Her participation in the Bahamas Agri-Business Expo rounded off the mission, providing a platform to engage with farmers, agri-entrepreneurs and national stakeholders.
“The Bahamas is advancing tangible, targeted actions that respond to both national priorities and the every day realities of farmers, fishers and families. FAO is proud to be a trusted partner in this journey, and I am inspired by the leadership and vision evident across all sectors,” Dr Touza said.
An Argentine national, she has served in key roles with the United Nations Development Programme (UNDP) and the World Food Programme (WFP), where she led regional initiatives to integrate smallholder farmers into value chains across nine countries.
Prior to her current appointment, Dr Touza served as FAO representative in Cabo Verde from 2019 to 2025. She now leads FAO’s representation in Jamaica, The Bahamas and Belize. She succeeds Dr Crispim Moreira in the post.
Don
AMMC Chairman,
Watling’s Distillery
DR ANA TOUZA, FAO representative to The Bahamas, with minister of agriculture and marine resources, Jomo Campbell.
JOHN Watling’s Distillery has teamed with the Antiquities, Monuments & Museums Corporation (AMMC) to hoist and remove the four cannons known as the Water Battery on Long Wharf for restoration.
‘POWERFUL CASE’ IS NEEDED FOR ARMED SECURITY OFFICERS
By ANNELIA NIXON Tribune Business
BAHAMIAN private security firms “will have to make a powerful case” for their officers to be equipped with firearms, the Minister for National Security has warned.
Wayne Munroe was responding to the industry’s advocacy following a recent ‘Private Security Awareness and Protection’ seminar, where many firms expressed the need for security officers to carry lethal and non-lethal accessories including firearms, tasers and pepper spray. Some argued that, typically being first on the scene of an incident, they should be armed should a dangerous situation occur.
However, Mr Munroe said that, while the Ministry of National Security is
“open” to receiving private security firms’ proposals and requests, to his knowledge “security guards are
DPM BLASTS OPPOSITION FOR SPACEX ‘GASLIGHTING’
By FAY SIMMONS
THE Deputy Prime Minister has accused the Opposition of trying to “gaslight and fearmonger with the Bahamian people” through spreading “falsehoods” about the Government’s deal with Elon Musk’s SpaceX. Chester Cooper, also minister of tourism, investments and aviation, responding to assertions by Shanendon Cartwright, the FNM’s deputy leader, over the pause in the SpaceX Falcon 9’s rocket booster landings, blasted the Opposition for “seeking cheap political mileage at the expense of the facts”. He reiterated that the landings have been paused until
an Environmental Impact Assessment (EIA) has been reviewed.
“We have been clear that the pause of Falcon 9 landings is only until a satisfactory post-launch report is received and an EIA assessment has been received — which is projected to be completed this summer.\,{” he said. “Curiously, this is what the FNM has been calling for.”
Mr Cartwright labelled the Davis administration’s handling of the SpaceX deal as a “flaming rocket of incompetence”, and criticised it for lack of transparency and inadequate consultation with local environmental experts.
Romauld Ferreira, the ex-environment minister who oversaw the passage of upgraded environmental protection laws and
meant to observe and watch”.
“The private security sector and the Ministry of
regulations under the Minnis administration, told Tribune Business that the temporary halt to SpaceX landings in The Bahamas until a full Environmental Impact Assessment (EIA) is completed was effectively an admission that the Government had got the approvals process “backwards”.
Pointing out the regulations accompanying the Environmental Planning and Protection Act require that a full EIA be completed before “the activity” it is examining can take place, he asserted that the Davis administration is “circumventing the law for those they want to do business with” and, in SpaceX’s case, had “thrown all caution to the wind” because of its connection to Mr Musk and his links to the White House.
Moving forward, Mr Ferreira told this newspaper that the EIA must include a “mapping of the debris
SEE PAGE B5
National Security held a one-day conference seminar,” Mr Munroe said.
“We’ve asked them to put their concerns forward. My understanding is security guards are meant to observe and watch.
“So they will have to make a powerful case for why they should be armed. And what will happen is, if they do make that case, then, of course, the Ministry of National Security will receive it. We will then work collaboratively with the Royal Bahamas Police Force to evaluate the request.”
Virgil Thurston-Sturrup, of the National Firearms Association, said it is also working to raise the issue with the Government.
“We’re trying to bring it to the Government’s attention again,” Mr Thurston-Sturrup said. “Actually, we already were discussing with the Ministry of
National Security post the seminar that they had at the Paul Farquharson Centre.
“But it seems they never did anything with the information. You know how the Government goes. They have these big seminars and they say all of these things, and then, at the end of the day, they tend to just let it die. We’ve had several follow-up meetings with them, but they’ve never done anything with the information.”
The private sector has also voiced concerns about off-duty police officers threatening their livelihoods due to the fact that they are allowed to carry firearms while performing a security guard’s job. This, they argued, has given police officers the upper hand when customers decide who can provide the most safety. Mr Munroe defended police officers, explaining they have the
proper training to carry firearms.
“Police officers who work off-duty are supposed to be working through the Staff Association,” said Mr Munroe. “There’s a specific function for that, and the reason that we do that is because there are police officers who are vetted, trained and trusted in the use of firearms. Could you imagine an untrained, unsecured security guard in a shopping mall with a firearm, and something happens?
“And so you can engage a police officer for this special duty through the police force. And then the question would be: Why would they not just simply engage them if they have a situation that requires them? But we’re open to receive any proposals, any submissions, and we’ll consider them.”
WAYNE MUNROE
The Bahamas ‘dodges big bullet’ on China ship fees
“inflation on steroids” given that the forecast neardoubling in cargo freight rates would have inevitably been passed on to Bahamian importers and their customers. Describing the US Trade Representative’s Office’s decision as “a game changer”, he added that it must “stick” and “not slide” in future years.
Tim Martin, chief executive and president of Tropical Shipping, which holds a major share of the freight cargo market for New Providence and Abaco, branded the escape from the Chinese-made ship fees as “a huge victory for us and the entire Caribbean region that we serve”.
Some nine of Tropical’s 19-strong vessel fleet, equal to 47 percent of the total, are Chinese-made and would have attracted the fee on every US port call.
“This is a great day for us, our customers and the Caribbean region we serve,” Tropical Shipping said in a posting on its Facebook page. “The US Trade Representative has exempted American-owned carriers like Tropical that operate Chinese-built vessels from the new tariffs.
“Our voices were heard, and this victory could not have happened without the relentless advocacy from our Caribbean representatives in Washington D.C, our customers and the many organisations that wrote letters to the US Trade Representative describing the devastating impact these port fees would have had on all of us.”
And Mr Martin, in a subsequent statement which said Tropical Shipping’s clients have dodged a $3,000 increase on the cost of a 40-foot container as a result of the Trump administration backing down, added: ““This is a huge victory for us and the entire Caribbean region that we serve... One of Tropical’s core values is: ‘Responsiveness is our
driving force.’ Caribbean communities were our driving force on this issue, and I can’t thank you enough.” The proposed Chinesemade ship fees were part of the Trump administration’s drive to “restore America’s maritime dominance”, and reverse the lead China has established in the shipbuilding, maritime and logistics, by driving/incentivising shipping firms to construct new-build vessels in the US if they wish to avoid significant cost hikes.
To give effect to this, the US Trade Representative proposed a fee structure that included an up to $1.5m levy “per vessel entry of a Chinese-built vessel to a US port”, plus escalating charges based on the percentage of Chinese-made vessels in a shipping operator’s fleet and a flat $1m fee per vessel if this percentage was 25 percent or higher.
However, in its decision unveiled late on April 17, just prior to the Easter weekend, the US Trade Representative’s Office revealed that included among “certain Chinesebuilt vessels not subject to the fee” are those “engaged in short sea shipping - voyages of less than 2,000 nautical miles from certain US ports”. This distance more than covers The Bahamas, meaning all shipping servicing this nation will be exempt.
Super Value’s Mr Roberts told Tribune Business that the sheer scale of opposition to the proposal from the US Trade Representative’s Office, especially from US-based shipping companies and exporters, plus the damage it would inflict on America’s trade surplus with the Caribbean that has been estimated as high as $55bn, meant the original scheme had little to no chance of being implemented.
“I wasn’t too concerned about it,” he revealed. “They just couldn’t let that happen. I probably predicted earlier that would have caused a 25 percent
increase in inflation and we’ve dodged that. I think we can all consider ourselves very fortunate now. What’s going to happen ten years from today, we just don’t know....
“We’ve dodged that big bullet. The public doesn’t know how hard Tropical Shipping fought for them, the public doesn’t know how hard Super Value fought for them. I suppose we’ve very probably avoided another 25 percent increase in inflation. The market just could not take that. Everybody’s at maximum budget now, and you put another 25 percent on them? They would not be able to pay BPL, could not pay school fees.”
Mr Lleida added of the US pull back: “To me I think it’s like a game changer in the sense we obviously have very little control over it, but kudos to Tropical, MSC and other operators that went in to bat for The Bahamas and the region and saved us from economic catastrophe. Those increases would have been passed on to importers and consumers, and it would have been inflationary on steroids...
“I don’t know what the actual costs would have come out to be, but we cannot stop importing. What do we do? Shut up shop and do domestic production 100 percent? It’s impossible. The GDP of the region is actually pretty significant, and the majority of it goes to the US.
“I’m happy to hear that [ship fee exemption] and hope this sticks because too many of these things slide. Hopefully we stay on the good side of the balance sheet for the duration and don’t have this craziness imposed upon us.”
As for the hotel and tourism industry’s perspective, Mr Sands said: “I can tell you that for the entire Caribbean this is a very positive development, and it’s a positive development for The Bahamas and certainly for all the hotels within the
islands of The Bahamas as well as other retailers.
“This is very significant. This is part of the battle that, I think, as a result of the negotiations and diplomacy has ended on the positive side. We still have work to do in terms of the country being impacted by tariffs, but certainly part of this pie has been addressed with respect to the transportation element of the cost of goods coming into the Caribbean and, certainly, the islands of The Bahamas.”
Asked about the benefits of avoiding the Chinesemade ship fee for the Bahamian tourism industry’s cost competitiveness, Mr Sands added: “It’s significant. I would say it’s in excess of 75 percent, 80 percent of all inputs we consume, particularly food and beverage-type items, maybe not all are produced in the US and maybe they are shipped from the US, maybe it’s as high as 85 percent.”
In a nod to the continued uncertainty, and impact on consumer and business confidence, caused by Donald Trump’s trade and tariff policies, the senior Baha Mar executive pledged: “We’ll continue to chip away at some of those headwinds we have been confronted with, but the good news is that where there’s unity there’s strength.
“A collaborative effort by all commercial shipping companies, the tourism industry, came together with a unified voice and it’s ended in a very positive result.” Rupert Pinder, assistant professor of economics at the University of The Bahamas (UoB), agreed that with the Chinese-made ship fee concerns now eliminated The Bahamas can focus its attention on the Trump tariffs and threat they pose to tourism and growth.
“I think it’s a positive move,” he told Tribune Business of the decision by the US Trade Representative’s Office. “I don’t think it
totally removes some of the concerns one would have with respect to the potential for a recession. It doesn’t remove the threat totally, but is certainly a step in the right direction in terms of mitigating the concerns with respect to inflationary pressures. It just removes one element of complexity in the whole thing.” Tropical Shipping, in its last feedback to the US Trade Representative’s Office, had warned that the original proposal would disproportionally impact carriers such as itself - and their clients in The Bahamas and wider Caribbean - because their smaller vessels mean they have fewer shipping containers over which to spread the huge fee increase that would result.
“The typical loaded TEUs (twenty-foot equivalent units) on the vessels serving the Caribbean are approximately 850 TEUs per vessel. The fees per entrance of a vessel to a US port as set out in the proposed action, if applied to vessels of this size, would almost double current freight rates in the region with an average freight increase of approximately $2,500 per 40-foot container,” it warned.
“As a comparison, if you applied the proposed $1m
fee to a vessel that calls on a single US port directly from China carrying 16,000 nominal TEUs, it would increase the cost per 40-foot container by only $125.
Many witnesses highlighted the disproportionate and crippling impact the proposed action would have on smaller or specialty vessels typically operating short sea routes. Broadly applying port fees per short sea ships, similar to oceangoing, long haul ships, would place a massively disproportionate burden on our smaller vessels, increasing costs between 100 and as much as 500 percent.”
And pointing to the likely impact for its own cost structure, Tropical Shipping added: “Tropical vessels enter the Port of Palm Beach 15 times per week on average. Under the proposed action, and based on our current fleet of vessels, Tropical would be charged port fees of $11.25m per week ($750,000 x 15) or $585m per year.
“Fees of this magnitude unquestionably threaten the ability of Tropical to continue operations. The added port entry fees for Tropical would necessarily have to be spread by Tropical across all operating costs for freight inbound to and outbound from the United States on its arriving vessels subject to the proposed fees.”
Easter fish stocks off ‘at least 75%’
use compressors. Most guys that fish for the Easter holiday are not allowed to use compressors so they don’t use them.
“A couple of years ago a boat got seized, and was held for a little while by the Government. They can’t afford for their boats to get seized so they just don’t go out.”
Mr Carroll said that, once a fishing boat and its crew become used to diving with compressors, they cannot do without them. As a result, those boats still fishing for Easter are ones with crews who free dive.
The Association president acknowledged that, while the Government had banned compressor use for the April-July four month period between the crawfish season’s end and start of a
new one, it is only in recent years that it has moved to enforce this.
“When the Government says you cannot use a compressor they are putting you on vacation for four months,” Mr Carroll told Tribune Business
“You can only use them for eight months in the crawfish season because the Government cracked down a few years ago. They started enforcing it, and one of the big boats got locked up; they brought them into Coral Harbour.
“The big boats don’t do it any more. I don’t really use compressors but I feel for those who do. You have some guys who just go for conch and fish, and only use compressors. When you tell them they cannot use it, you’re telling them to go on vacation for four months. When you’re bringing in the
DPM blasts Opposition for SpaceX ‘gaslighting’
FROM PAGE B3
field” from the first booster landing and, if no material fell on any Bahamian island, “show and demonstrate” this is the case. He argued that The Bahamas was really receiving “space garbage” under the guise of space tourism, and questioned who would be responsible if any debris fell on and damaged a Bahamian home.
The former environment minister also argued that the SpaceX situation has the capacity to further “erode public trust” in government, and enforcement of the law and accompanying regulations, if the proper process is not followed. He added that the result had been to permit “SpaceX to operate in the sovereign territory of The Bahamas in an unregulated manner”.
Mr Cooper, in unveiling the SpaceX booster landing pause, said: “We wish to advise that there will be no further Falcon landings in
the Bahamas until SpaceX and its environmental agency has completed a full Environmental Impact Assessment. You may already be aware that any additional mandates, each require a separate licence from the Civil Aviation Authority of the Bahamas (CAAB).
“Regarding the debris from Starship 8’s tank, it was collected and removed outside of The Bahamas as a full expense of SpaceX. However, should any resident suspect space debris has washed ashore, please contact DEPP. “None of it will remain in our country and The Bahamas would incur no cost. We emphasise that The Bahamas will incur no cost as a result of the debris recovery. The cost and logistics of this effort have been handled entirely by SpaceX in accordance with the international standards, and under Bahamian oversight to ensure compliance with safety and environmental standards.”
nets, and they get hooked, guys have to dive and clear the nets. If you cannot clear the nets, you cannot haul.”
Asked to estimate how much fish availability for Easter has declined as a result, Mr Carroll replied: “It’s way down, way down. At least 75 percent - snapper, grouper, fish for Easter. Mostly snapper and small jacks. I came from Potter’s Cay and drove straight through. Normally this time of year it would be backed up, but it’s just like a normal day.
“The fish we want to eat for Easter are not around like that because the fishermen do not want to take the chance of going out and using compressors because, if they get caught, the boat seized and they are hauled up before the courts, they may not be able to go out for crawfish season. That’s a
Kiko Dontchev, vice-president of launch at Space X, said it had seen the feedback from environmentalists and understands that a public consultation is necessary so persons can voice their concerns.
“We heard the feedback from the environmentalists, which is exactly why we are going to go do an EIA, and no landings will happen until we’re complete with that process. That process will also include a public comment period. So folks that have a say on the landings will have a chance,” said Mr Dontchev.
He added that the EIA is expected to be completed by the end of summer 2025, and the delay will not interfere with Space X’s scheduled launches. “We hope to be completed by the end of the summer, at which point we can restart,” said Mr Dontchev.
“It will not affect our cadence, but it will affect some of the trajectories we fly. We’re working to make that impact as minimal as possible. And we want to support The Bahamas and do the right thing, so we will figure out how to work through them.”
problem. They’d rather just stay home.”
Mr Carroll said this is not just impacting Easter fish sales and volumes but also market conditions later in the year. “Usually those big boats, when they go out to fish, in summer they bring back a lot and stock up,” he explained. “We’ll be affected by this in the winter months, wondering why there is no fish, because they did not go out to fish in summer.
“They put the snappers in stock for the winter months.
This just doesn’t affect Good
Friday; it affects the winter months. It’s a big problem, and I see the problem every day.” He added that there needed to be some discussion and consultation on potentially easing the four-month ban, adding:
“I personally believe they should be allowed to use a compressor. This was ever in place from when they introduced it in The Bahamas; that it could only be used for crawfish.
“People then started using it for other things, and were able to do it, but the Government cracked down on it and they stopped going out.”
“We know some fishermen took advantage of it, and dive in areas where they are not supposed to. If we put strict fines in place we can manage it,” the Association president added. “No less than 30 feet, and no deeper than 60 feet. Put fines in place if they are caught. If the Government finds out you are diving and bringing up catches illegally, you have to put fines in place.”
Mr Carroll said violations of the law, and especially the inappropriate use of compressors, should be tackled through the imposition of fines on offenders rather than blanket bans.
Super Value chief: ‘We’ve held back inflation for rest of 2025’
commodities in advance to trading in the global stock markets as when an order is placed or confirmed - that same morning or afternoon - can now result in a 10 percent difference in the price that is obtained from suppliers and wholesalers.
“We just don’t sit around and let what happens happen,” he told this newspaper. “We buy and manage. It’s getting to be very interesting. Purchasing commodities is like trading in the stock market; sometimes, between the morning and afternoon, means a 10 percent differential in price. You take the offers when they offer.”
The Super Value chief said rapidly-changing prices means food retailers need faster action from price control and the Government’s Consumer Affairs Department when it comes
to approving alterations in shelf pricing so that Bahamian consumers can benefit from lower costs
Arguing that “price competition is the best price control”, Mr Roberts said: “This is where we have hurdles with price control. We put in for a new corn beef price, but price control is not in a hurry to approve the new price. We put in for a new corn beef price, trying to beat the market, they should give us a quick review and not hold us up. “The other thing with price control is you have to bring in a shipment, show proof of importation, before they approve a price increase. There’s a lot of change we need with price control, but they won’t listen, thinking we’re trying to get some advantage on the public when we’re trying to beat the world system and help consumers.
Restaurant owner: Stop ‘treating us like criminals’
need for that. We should not be treated like that. Just be courteous and say ‘we’re here to do an annual check’ or whatever.”
Mr Maury said that while most of the Immigration officers that conducted the check were polite, one was “aggressive” towards his company’s chief executive.
“I’ve been through it enough times. It’s not hard for us to put our hands on the paperwork,” he added.
“We’re not an illegal operation, but it’s just kind of sad that, for the most part, it’s always a single individual. Everybody else is courteous and there’s no problem.
Then there’s always one person that stands out and just has to be aggressive or rude, and it makes it look bad for the whole department.
“They stopped everything and made everybody show their IDs in the middle of dinner service, and to be rude on top of it and make a scene in front of customers… it’s wrong.”
Chad Adams, the Immigration Enforcement Unit’s chief officer, told Tribune Business he could not comment on the matter
but advised that any party that feels wronged by the Department is free to submit a complaint. “We have a Complaints Unit, and all formal complaints that are submitted to the Department will be investigated by them and they will address it,” he said.
Numerous attempts were also made to reach Immigration Director, William Pratt, but no response was received as of press time.
The Immigration Department released a statement last week, advising that the Enforcement Unit and Maritime Revenue Task Force conducted operations earlier this month that resulted in the arrest of more than 100 individuals for Immigration offences.
“Between April 1 and 13, operations were conducted by the Enforcement Unit and the Maritime Revenue Task Force (MRETF) across New Providence, Grand Bahama and Abaco. These operations resulted in the apprehension of 108 Haitian nationals, two Jamaican nationals, two Turkish nationals, and one national each from Canada, the Dominican Republic, Guyana, Trinidad and
NOTICE
NOTICE is hereby given that ANNE YTIL of #12 Wrights Lane off Wulff Road, P.O. Box SS5311, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that CILIANE INNOCENT-MARCELIN of Carmichael Road, applying to the Minister responsible for Nationality and Citizenship, for Registration/Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 22th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
“This price control legislation is more than 50 years old. There have been changes. I think we’re the only country with price controls. It adds to the cost of living instead of keeping it down. Price competition is the best price control,” he added.
“If price control says we can sell corn beef at $2.69 a can, what do you think all merchants are going to do? They will sell at $2.69 per can. We’ve sold as low as $2.15. There’d be some competition if it wasn’t price controlled. There’s two sides. They don’t see our side and we don’t see their side.”
With corn beef remaining a focus for Super Value, Mr Roberts said the supermarket chain is seeking to source two additional toptier brands from Uruguay which, along with Brazil, is the product’s leading
Tobago and Zambia,” said the statement.
“The Enforcement Unit operations led to the arrest of individuals for various Immigration-related offences, including illegal landing, overstaying, engaging in gainful occupation without authorisation, attempting to mislead an Immigration Officer, and unlawful use of a forged document.”
The Immigration Department said $23,600 was collected during these operations, and pledged to continue enforcement operations to “uphold the integrity of the nation’s Immigration laws”.
“Immigration officers attached to the MRETF apprehended individuals involved in similar violations in the Abaco Cays, and a total of $23,600 in Immigration revenue was collected during this operation. All individuals were transported to the Carmichael Road Detention Centre for further processing and investigation. They have since appeared in the Magistrate’s Court,” said the statement.
“The Department of Immigration remains committed to conducting enforcement operations to uphold the integrity of the nation’s Immigration laws. The public is encouraged to report any immigration violations or suspicious activities by contacting the Department’s hotlines.”
exporter. “We’ve secured Brazil and are moving to Uruguay,” he confirmed. “Uruguay has the best corn beef and we’re trying to get two top ones out of Uruguay. As an extra precaution we’re trying to get the two best brands from Uruguay. China buys fresh; they don;t buy in the can, which is why we have to go all out.”
Noting that Super Value’s 60 anniversary celebrations are coming up in August, Mr Roberts said he had been looking at a newspaper advertisement from when the supermarket chain was first founded and comparing prices from then to those that are charged now.
“Prices then were about 10 percent of what they are now,” he disclosed. “Anything that is $10 now was $1 then. Looking at it, you wonder how product that
had been manufactured so cheaply and inexpensively then, and compare it to now. Freight costs more than the actual cost of the commodity. Then inflation just keeps soaring higher...
“That’s the way the world works. That’s what we fight every day. We don’t take the prices we are offered. We try to beat them down.”
As an example of this effort, Mr Roberts cited “a big decision” that Super Value had to make last year between pallet stacking and floor stacking.
While the former “could be 5-8 percent more”, it is faster involving threeminute unloads and saves on labour costs when compared to floor stacking, which is manual-intensive and requires three persons to unload a container of corn beef. “One man has to handle 24 cans when you can handle a pallet
‘Critical challenges’ to tourism’s 4.5% growth
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market compositions and development characteristics.
“This strategic approach aims to diversify the tourism product, attract high-value visitor segments and enhance The Bahamas’ resilience as a globally competitive destination. By leveraging the strengths of each island, the Government seeks to optimise infrastructure investments, elevate service standards and create sustainable economic linkages that drive long-term sectoral growth.”
The Bahamas’ recent growth, especially in the past two years, has been driven almost exclusively by lower-spending and yielding cruise passengers while stopover or landbased visitor numbers have remained stagnant. The Government has blamed this on a shortage of hotel room inventory, or capacity, and is seeking to double or increase this number by 15,000 - an effort that may take some time to achieve.
“The Northern Bahamas islands - comprising Grand Bahama, New Providence, Bimini, Berry
NOTICE
NOTICE is hereby given that MR. ERRIE RICHARDO SAMAROO of #2 Glen Court, South Beach, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that EVENS DANY of Blackwood, Eleuthera, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that ANDRE PETIT-PHARD of Ridgeland Park, Robinson Road, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 14th day of April, 2025 to the Minister responsible for nationality and Citizenship,
any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
with a forklift in one-tenth of the time,” Mr Roberts explained.
“There are many decisions we have to make directly to keep prices down. We have the warehouse space. Whatever it takes to keep inflation down, we’re doing. We’ve even cut more doors in the warehouse to facilitate more speed to get the merchandise in one side of the warehouse and out to stores on the other side. The one thing we cannot beat is the traffic.”
Mr Roberts said moving products to the chain’s 13 stores would be much quicker and simpler at night, given the reduced traffic on New Providence’s roads, but he acknowledged that the shipping docks operate during daylight hours only while labour and overtime costs would likely also increase.
supporting long-term, inclusive growth and enhanced resilience across the region.”
Islands, Abaco, Eleuthera and Andros - are particularly strategic due to their economic significance, exposure to external shocks and untapped potential for sustainable growth. While these islands serve as key tourism hubs, they face infrastructure gaps, climate risks and destination management challenges,” the IDB paper said.
“Given their geographic and climate similarities, proximity to major markets and established infrastructure, the region presents an ideal setting for comparative tourism assessments.
A comprehensive diagnostic is crucial to generate actionable insights that will drive evidence-based policy decisions, strategic planning and targeted interventions to enhance competitiveness, sustainability and resilience.
“The findings will directly inform infrastructure investments, workforce development, climate adaptation measures and tourism diversification strategies. These insights will contribute to the development of a sustainable tourism and climate-resilient strategy for the Northern Bahamas,
Besides studying “current and projected visitor demand, demographics, accessibility and expenditure patterns across key and emerging niche markets”, including visitor preferences, the IDB said the project will also focus on developing a sustainable tourism and climate resilience strategy.
“The general objective.... is to enhance the competitiveness, sustainability and resilience of tourism in The Bahamas by conducting a comprehensive diagnostic of inbound tourism across the Northern Bahamas and developing a strategic framework for sustainable tourism growth and climate resilience,” the IDB paper reiterated.
“The specific objectives are to evaluate tourism competitiveness by analysing visitor demand, demographics, spending patterns, niche markets and accessibility to inform strategic planning, and develop a sustainable tourism and climate resilience strategy that integrates product development, infrastructure, cultural assets, workforce capacity and climate adaptation measures to enhance long-term sustainability.”
NOTICE
NOTICE is hereby given that MRS. MEANAWATTIE RAMNARINE–SAMAROO of #2 Glen Court, South Beach, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that MARLINE DANY of Blackwood, Eleuthera, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that LOUDELINE DERNIER of St Michael Road off Solider Road, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
Sellers of secondhand clothes prepare for tariffs to give their businesses a boost
By ANNE D'INNOCENZIO AP Retail Writer
STORES selling sec-
ondhand clothes, shoes and accessories are poised to benefit from President Donald Trump'strade war even as businesses the world over race to avert potential damage, according to industry experts.
American styles carry international influence, but nearly all of the clothing sold domestically is made elsewhere. The Yale University Budget Lab last week estimated short-term consumer price increases of 65% for clothes and 87% for leather goods, noting U.S. tariffs "disproportionately affect" those goods.
Such price hikes may drive cost-conscious shoppers to online resale sites, consignment boutiques and thrift stores in search of bargains or a way to turn their wardrobes into cash.
Used items cost less than their new equivalents and only would be subject to tariffs if they come from outside the country.
"I think resale is going to grow in a market that is declining," said Kristen Classi-Zummo, an apparel industry analyst at market research firm Circana.
"What I think is going to continue to win in this chaotic environment are channels that bring value."
The outlook for preowned fashion nevertheless comes with unknowns, including whether the
president's tariffs will stay long enough to pinch consumers and change their behavior. It's also unclear whether secondhand purveyors will increase their own prices, either to mirror the overall market or in response to shopper demand.
A new audience courtesy of sticker shock
Jan Genovese, a retired fashion executive, sells her unwanted designer clothes through customer-to-customer marketplaces like Mercari. If tariffs cause retail prices to rise, she would consider high-end secondhand sites.
"Until I see it and really have that sticker shock, I can't say exclusively that I'll be pushed into another direction," Genovese said. "I think that the tariff part of it is that you definitely rethink things. And maybe I will start looking at alternative venues."
The secondhand clothing market already was flourishing before the specter of tariffs bedeviled the U.S. fashion industry. Management consulting firm McKinsey and Co. predicted after the COVID-19 pandemic that global revenue from preowned fashion would grow 11 times faster than retail apparel sales by this year as shoppers looked to save money or spend it in a more environmentally conscious way.
NOTICE
NOTICE is hereby given that ABIGAIL JEAN of Pinedale, Eight Mile Rock, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 22nd day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that MANISE DAMEUS of Joe Farrington Road, New Providence, Grand Bahama, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that FRITZ YTIL of Wrights Lane off Wulff Road, P.O. Box SS5311, Nassau, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 11th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that FRISNEL DESROSIERS of Ritchville Subdivision, #10 Malcolm Road West, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 15th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
While millennials and members of Generation Z were known as the primary buyers of used clothing, data from market research firm Sensor Tower shows the audience may be expanding.
The number of mobile app downloads for nine resale marketplaces the firm tracks — eBay, OfferUp, Poshmark, Mercari, Craigslist, Depop, ThredUp, TheRealReal and Vinted — increased by 3% between January and the end of March, the first quarterly gain in three years, Sensor Tower said.
The firm estimates downloads of the apps for eBay, Depop, ThredUp and The RealReal also surged compared to a year earlier for the week of March 31, which was when Trump unveiled since-paused punitive tariffs on dozens of countries.
Circana's Classi-Zummo said that while customers used to seek out collectible or unusual vintage pieces to supplement their wardrobes, she has noticed more shoppers turning to secondhand sites to replace regular fashion items.
"It's still a cheaper option" than buying new, even though retailers offer discounts, she said.
A tariff-free gold mine lurking in closets and warehouses
Poshmark, a digital platform where users buy and sell pre-owned clothing, has yet to see sales pick up under the tariff schedule Trump unveiled but is prepared to capitalize on the moment, CEO Manish Chandra said.
Companies operating e-commerce marketplaces upgrade their technology to make it easier to find items. A visual search tool and other improvements to the Poshmark experience will "pay long dividends in terms of disruption that happens in the market" from the tariffs, Chandra said.
Archive, a San Franciscobased technology company that builds and manages online and in-store resale programs for brands including Dr. Martens, The North Face and Lululemon, has noticed clothing labels expressing more urgency to team up, CEO Emily Gittins said.
"Tapping into all of the inventory that is already sitting in the U.S., either in people's closets or in warehouses not being used," offers a revenue source while brands limit
or suspend orders from foreign manufacturers, she said.
"There's a huge amount of uncertainty," Gittins said. "Everyone believes that this is going to be hugely damaging to consumer goods brands that sell in the U.S. So resale is basically where everyone's head is going."
Stock analysts have predicted off-price retailers like TJ Maxx and Burlington Stores will weather tariffs more easily than regular apparel chains and department stores because they carry leftover merchandise in the U.S.
Priced out of the previously owned market
Still, resale vendors aren't immune from tariffinduced upheavals, said Rachel Kibbe, founder and CEO of Circular Services Group, a firm that advises brands and retailers on reducing the fashion industry's environmental impact.
U.S. sellers that import secondhand inventory from European Union countries would have to pay a 20% duty if Trump moves forward with instituting "reciprocal" tariffs on most trading partners and eliminates an import tax exception for parcels worth less than $800, Kibbe said.
A circular fashion coalition she leads is seeking a tariff exemption for used and recycled goods that will be offered for resale, Kibbe said. Trump already ended the duty-free provision for low-value parcels from China, a move that may benefit sellers of secondhand clothing by making low-priced Chinese fashions pricier, she said.
James Reinhart, cofounder and CEO of the online consignment marketplace ThredUp, said the removal of the "de minimis" provision and the 145% tariff Trump put on products made in China would benefit businesses like his. He doubts creating resale channels would make a big difference for individual brands.
"Brands will explore this and they may do more, but I don't see them massively changing their operations," Reinhart said. "I think they're going to be figuring out how to survive. And I don't think resale helps you survive."
Rebag, an online marketplace and retail chain that sells used designer handbags priced from $500 to tens of thousands of dollars, expects tariffs to help drive new customers and plans to open more physical stores, CEO Charles Gorra said. PEOPLE work amid boxes of returned or overstocked clothing, shoes, boots, coats, packs and other items in a warehouse where the goods are cleaned or repaired before they are marketed on resale platforms in Englewood, Colo., on Thursday, April 17, 2025.
Photo:David Zalubowski/AP
HOW STOCKS, BONDS AND OTHER MARKETS HAVE FARED SO FAR IN 2025
By WYATTE GRANTHAM-PHILIPS and DAMIAN J. TROISE AP Business Writers
GLOBAL financial markets have been turned upside down this year by President Donald Trump's burgeoning trade war. Markets are not in full panic, but the double-digit declines in major U.S. stock indexes are testing nerves. U.S. markets had been on a two-year tear coming into 2025, though many believed that stock prices had become overinflated. Trump's trade war pushed that sentiment into hyperdrive. The S&P 500 has tumbled more than 12%, and U.S. markets are being outpaced in Europe, Asia, and just about everywhere else.
Trading in traditional "safe havens" like U.S. Treasurys and the dollar has become erratic and unpredictable. On Monday, the dollar struck a threeyear low and U.S. Treasury yields have been soaring. Typically, yields would fall as investors seek a safe place to park their money. U.S. Treasurys no longer appear to provide the shelter they once did. Only gold, a commodity traded internationally, has maintained its reputation as a safe zone. The price of gold is hitting one record high after another. Here's a roundup of what is happening in various segments of the financial market:
Stocks
U.S. stocks have been losing ground in a sharp reversal after two years of stellar gains. The S&P 500 index, which is considered a benchmark for the broader market's health, is down 12.3% in 2025. It gained more than 20% in both 2023 and 2024. The benchmark index is already in "correction," having fallen more than 10% from the record it set in February. There have been only five weeks in which it's ended in positive territory this year and with Monday's decline it's moving closer to bear market territory, or a 20% drop from recent highs.
It's worse on the growthfocused Nasdaq composite, which has plunged nearly 18 %.
Overseas markets have largely performed much better than their U.S. counterparts.
Bonds
Treasurys, typically considered a less risky area of the market, have been volatile throughout the year.
The 10-year Treasury, which influences mortgage rates and other loans, was as high as 4.80% in January but then fell until Trump announced the broad details of his tariff policy in early April. Yields then began to spike this month. The recent jump in bond yields, which happens when bond prices fall, reflects rising anxiety about inflation and a potential recession.
Treasury bonds are essentially IOUs from the U.S. government and they're how Washington pays its bills. Bond prices typically move in the opposite direction of stock prices, but prices for both have fallen in tandem. That raises more significant concerns, namely a loss of faith in the U.S. as a safe place to invest.
Gold
In all of the economic uncertainty, gold is soaring — setting record after record in 2025.
Foreign Exchange
The U.S. dollar, the world's reserve currency, is falling under the weight of uncertainty over tariffs, inflation and the direction of the U.S. economy. The U.S. dollar is down a steep 9% for the year when measured against a basket of other currencies, including the euro, Japanese yen, Canadian Dollar and Swiss franc.
The dollar began to erode almost immediately in 2025, but those losses have accelerated over the past two months. A weakened dollar means it is more difficult for the U.S. government, businesses and consumers to borrow money at lower rates. It also means less purchasing power for U.S. consumers and the potential for stunted economic growth.
Oil
There is good news and bad news about energy prices. The average price for a gallon of gasoline in the U.S. on Monday was $3.15, down sharply from $3.67 at this time last year. That's the good news.
The bad news is that energy prices fall when people start anticipating an economic slowdown. Factories produce less, families call off vacations and businesses cut travel expenses.
Oil prices hit a four-year low this month with anxiety over the impact of tariffs on global economic growth sinking in.
West Texas Intermediate crude, the U.S. benchmark, stood at around $62.40 per barrel Monday. That's down nearly 14% year to date. And Brent crude, the European standard, was just above $66 — down nearly 13% since the start of 2025.
Economists are warning that the steep tariffs Trump is pursuing could cause a recession, which could carry significant implications for the supply chain and jobs in the energy sector.
Bitcoin
Bitcoin has continued to undulate.
The world's largest cryptocurrency has been on a rollercoaster since the start of the year — with the volatile asset climbing to more than $109,000 ahead of Trump's inauguration in January, only to dip under $75,000 amid wider market sell-offs this month. As of midday Monday, bitcoin's going price was above $87,000, per CoinMarketCap.
That's more than $6,000 lower than what bitcoin was trading at the start of 2025 — but still significantly higher than in recent years. At this time last year, bitcoin traded around $65,000. And in April 2023, months after the November 2022 collapse of FTX crushed crypto, the digital asset went for under $30,000.
Trump, once a crypto skeptic, became a major promoter of the industry throughout his campaign — and last month, he signed an executive order establishing a government reserve of bitcoin.
New York spot gold hit another all-time high Thursday, closing at about $3,343 per Troy ounce — the standard for measuring precious metals — per FactSet. The price is up nearly 27% this year. Gold futures rose to more than $3,432 Monday. Interest in gold spikes in times of uncertainty as investors seek a safe place for their money, although there can still be some volatility. The price of spot gold fell for three straight trading days following Trump's sweeping "Liberation Day" announcement on April 2, for example, but soon rebounded overall.
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Wall Street and the dollar tumble as investors retreat further from the United States
By STAN CHOE AP Business Writer
WALL Street weakened Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump's trade war and his criticism of the Federal Reserve, which are shaking the traditional order.
The S&P 500 sank 2.4% in another wipeout. That yanked the index that's at the center of many 401(k) accounts 16% below its record set two months ago.
The Dow Jones Industrial Average dropped 971 points, or 2.5%, while losses for Tesla and Nvidia helped drag the Nasdaq composite down 2.6%.
Perhaps more worryingly, U.S. government bonds and the value of the U.S. dollar also sank as prices retreated across U.S. markets. It's an unusual move because Treasurys and the
dollar have historically strengthened during episodes of nervousness. This time around, though, it's policies directly from Washington that are causing the fear and potentially weakening their reputations as some of the world's safest investments.
Trump continued his tough talk on global trade as economists and investors continue to say his stiff proposed tariffs could cause a recession if they're not rolled back. U.S. talks last week with Japan failed to reach a quick deal that could lower tariffs and protect the economy, and they're seen as a "test case," according to Thierry Wizman, a strategist at Macquarie.
"The golden rule of negotiating and success: He who has the gold makes the rules," Trump said in all capitalized letters on his Truth Social Network. He also said that "the
businessmen who criticize tariffs are bad at business, but really bad at politics," likewise in all caps.
Trump has recently focused more on China, the world's second-largest economy, which has also been keeping up its rhetoric. China on Monday warned other countries against making trade deals with the United States "at the expense of China's interest" as Japan, South Korea and others try to negotiate agreements.
"If this happens, China will never accept it and will resolutely take countermeasures in a reciprocal manner," China's Commerce Ministry said in a statement.
Also hanging over the market are worries about Trump's anger at Federal Reserve Chair Jerome Powell. Trump last week criticized Powell again for not cutting interest rates
AUDITORS’ REPORT
To the Shareholders of CBH Bahamas Ltd.
Report on the Audit of the Consolidated Financial Statements
Opinion We have audited the consolidated financial statements of CBH Bahamas Ltd. and its wholly owned subsidiaries (together, “the Group”), which comprise the consolidated statement position as at December 31, 2024, the consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, and notes, comprising material accounting policies and other explanatory information.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, consolidated financial performance and its consolidated cash flows for the year accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”).
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the International Ethics Standards Board for Accountants International Code of Ethics for Professional Accountants (including International Independence (IESBA Code), and we have fulfilled our other ethical responsibilities in accordance IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management and Those Charged with Governance for the Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRS Accounting Standards, and for such internal management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either
Auditors’ Responsibilities for the Audit of the Consolidated Financial Statements (continued)
sooner to give the economy more juice.
The Fed has been resistant to lowering rates too quickly because it does not want to allow inflation to reaccelerate after slowing nearly all the way down to its 2% goal from more than 9% three years ago.
Trump talked Monday about a slowdown for the U.S. economy that could be coming unless "Mr. Too Late, a major loser, lowers interest rates, NOW."
A move by Trump to fire Powell would likely send a bolt of fear through financial markets. While Wall Street loves lower rates, largely because they boost stock prices, the bigger worry would be that a less independent Fed would be less effective at keeping inflation under control. Such a move could further
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
All the uncertainty striking pillars at the center of financial markets means some investors say they're having to rethink the fundamentals of how to invest.
"We can no longer extrapolate from past trends or rely on long-term assumptions to anchor portfolios," strategists at BlackRock Investment Institute said in a report. "The distinction between tactical and strategic asset allocation is blurred. Instead, we need to constantly reassess the long-term trajectory and be dynamic with asset allocation as we learn more about the future state of the global system."
That in turn could push investors outside the United States to keep more of their money in their home markets, according to the strategists led by Jean
earnings reports due later this week.
Tesla sank 5.7%. The electric vehicle maker's stock has more than halved from its record set in December on criticism that the stock price had gone too high and that CEO Elon Musk's role in leading the U.S. government's efforts to cut spending is damaging the brand.
Nvidia fell 4.5% for a third straight drop after disclosing that U.S. export limits on chips to China could hurt its first-quarter results by $5.5 billion. They led another wipeout on Wall Street, and 92% of the stocks within the S&P 500 fell.
Among the few gainers were Discover Financial Services and Capital One Financial, which climbed after the U.S. government
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
VANCE AND MODI MEET IN NEW DELHI TO DISCUSS TRADE DEAL AND AVOID US TARIFFS
By SHEIKH SAALIQ Associated Press
U.S. Vice President
JD Vance held talks with Indian Prime Minister Narendra Modi on Monday as New Delhi looks to avoid American tariffs, negotiate a bilateral trade deal with Washington and strengthen ties with the Trump administration.
Vance, who is on a largely personal four-day visit to India, met with Modi at his residence in New Delhi and the two leaders "reviewed and positively assessed the progress in various areas of bilateral cooperation," Modi's office said in a statement. They also "welcomed the significant progress" in the negotiations of an expected trade deal between the two countries, the statement said.
The White House in a statement said that Vance and Modi set the terms for ongoing talks, "laying down a roadmap for further discussions." It's a sign that talks are moving forward but remain far from finalized, though Trump administration officials also spoke with their counterparts from India in a sign of the high level of engagement. The Trump administration has portrayed its strategy of tariffs as forcing negotiations that could limit the reach and influence of China, the world's dominant manufacturer.
The U.S. is India's largest trading partner and the two countries are now holding negotiations aiming to seal a bilateral trade agreement this year. They have set an ambitious target of more than doubling their bilateral trade to $500 billion by 2030. If achieved, the trade deal could significantly enhance economic ties between the two countries and potentially strengthen diplomatic ties as well.
Vance's first visit to New Delhi came amid the backdrop of U.S. President Donald Trump's partiallypaused tariff program against most countries, including India. Earlier in April, Trump announced a 90-day pause in which imports from most countries would face a baseline 10% tax so that there was time to hold talks and possible structure broader deals. Trump has been personally involved in talks with Japan, but India's size and potential enable it to possible be a counterbalance to China, which is New Delhi's main rival in the region.
Vance is set to deliver a speech on Tuesday from Rajasthan International Centre in Jaipur, India, where he may provide more details on the trade talks.
Modi's office said that the two leaders "noted continued efforts towards enhancing cooperation in energy, defense, strategic technologies and other areas" and "exchanged views on various regional and global issues of mutual interest, and called for dialogue and diplomacy as the way forward."
Indian Foreign Ministry spokesperson Randhir Jaiswal said on Monday that Vance's visit will "further deepen the India–U.S. comprehensive global strategic partnership." Vance combines business with pleasure
Vance was greeted with an Indian classical dance performance after he arrived at New Delhi's Palam airport on Monday, following his visit to Rome,
where he met with Pope Francis on Easter Sunday, a day before the pontiff's death.
Vance was accompanied by his wife, Usha Vance, a practicing Hindu whose parents are from India, along with their three children and officials from the U.S. administration.
The family visited the Akshardham Hindu temple in New Delhi after their arrival and are expected to tour the iconic Taj Mahal monument and the 12thcentury Amer Fort — a UNESCO world heritage site — during their trip. India's importance in counterbalancing China's influence
India is a close partner of the U.S. and an important strategic ally in combating the rising influence of China in the Indo-Pacific region. It was also part of the Quad, which is made up of the U.S., India, Japan and Australia and is seen as a counterbalance to China's expansion in the region. Trump is expected to attend a summit of Quad leaders in India later this year. Washington has long sought to develop a deeper partnership with New Delhi, which is seen as a bulwark against China. Modi particularly established a good working relationship with Trump during his first term in office, and the two leaders are likely to further boost cooperation between their countries.
Modi was among the first leaders to visit the U.S. and hold talks with Trump after he returned to the White House. During his visit, he hailed a "mega partnership" with the U.S., and kickstarted a negotiation process to minimize the possible fallout of Trump's tariffs.
The two leaders also said they planned to grow their defense partnership, with India signaling compliance with the Trump administration's demands, saying it will purchase more oil, energy and defense equipment from the U.S. Modi also has cooperated with Trump's moves to deport migrants as India has accepted many of its citizens from the U.S. in the past few months. Regardless, Trump targeted India with a 26% levy, part of which has since been paused. However, he has continued to call India a "tariff abuser" and "tariff king."
Trade talks are pressing for India
The trade negotiations are especially urgent for India, which could be hit hard by Trump's tariffs, particularly in the agriculture, processed food, auto components, high-end machinery, medical equipment and jewelry sectors.
Harsh Vardhan Shringla, India's former foreign secretary and ambassador to the U.S., said that Vance's visit comes at a time of global upheaval in world trade. He said ties between New Delhi and Washington could see an upsurge under Trump's presidency, mainly in technology-sharing and defense.
"U.S. trade policy under Trump offers an opportunity for India to embed itself in a bigger way in the U.S. markets and global supply chains," Shringla said.
Modi's government is also hoping to attract investment from Tesla and SpaceX CEO Elon Musk.
