A consumer advocacy group has issued a stark warning to businesses, urging transparency and accountability in pricing as the country braces for potential cost increases linked to global trade shifts.
The Barbados Consumer Empowerment Network (BCEN) has called on businesses to avoid exploiting external factors, such as US tariffs, as blanket justifications for disproportionate price hikes.
In a strongly worded response to suggestions by the Barbados Chamber of Commerce and Industry (BCCI) that the country can expect price hikes in consumer goods as a result of sweeping new tariffs imposed by US President Donald Trump on global trading partners—including a 10 per cent tariff on items landing at American ports from the Caribbean—the charity urged businesses to provide transparent and evidence-based justifications for any price increases.
BCEN Executive Director Maureen Holder acknowledged that while US tariffs do not directly tax Barbadian imports, they can increase the global cost of goods that Barbados purchases from affected countries.
Holder said BCEN believes it is important to explain that US tariffs apply only to imports entering the United States and not to goods exported from the US to Barbados.
She told Barbados TODAY: US tariffs can still have global price effects, particularly if major suppliers to Barbados [such as] China, Europe and Latin America are affected, increasing their production costs and leading to price increases that are passed down to buyers worldwide, including Barbados. Still, while this factor may influence prices in Barbados, they do not justify arbitrary price increases by local businesses.
“The concern for BCEN is not just about rising prices but also about fair pricing practices. Too often, external factors are cited as blanket reasons for price hikes without clear proof of their direct impact. The BCCI must provide detailed data on which goods will be affected, to what extent, and whether the increases reflect actual cost changes rather than speculative markups.”
She added: “BCEN warns against price gouging, where businesses exploit external events to impose disproportionate increases on consumers. We call on the Fair Trading Commission (FTC) to monitor pricing trends and ensure that any adjustments are justified and not opportunistic. Consumers should also demand receipts and cost breakdowns when faced with significant price hikes.”
Holder said that while businesses cite international factors, the government must protect consumers from undue financial strain.
BCEN suggested that the government must strengthen laws to ensure businesses justify price hikes and enhance mechanisms for consumers to report unfair pricing. It asked that the government strengthen its oversight to prevent unjustified price increases and ensure businesses operate fairly.
“Even if it calls for some policy adjustments, government needs to revisit and explore some of the trade agreements it has with various countries, to see what is to be gained from these agreements through market access commitments and tariff reductions on essential goods to offset potential price increases,” the executive director argued.
Holder has urged the government to reassess existing trade agreements to ensure consumers do not bear the brunt of global trade shifts.
She suggested that the government could also seek alternative agreements with non-traditional partners and expand trade with non-US partners, including CARICOM, the EU, Canada and China to secure lower-cost goods.
“BCEN urges the government to take proactive steps. It is high time that government not only just talk but act by working within existing WTO frameworks to ease consumers. There should be room for exploring and formulating other bilateral agreements to negotiate tariff exemptions or trade concessions to minimise the impact on consumers,” the consumer group leader pointed out.
She claimed that the government has been, for a while, “very laid back” on finding creative ways to ease the burden on consumers but continues to allow many foreign-owned retail businesses to consistently raise prices and repatriate profits, resulting in very little value added for Barbados.
Holder said, “Consumers in Barbados deserve better. BCEN encourages consumers to remain conscious and report suspicious price increases to consumer protection bodies. BCEN advises consumers to be prepared to take a stand for fairness and equity in Barbados because class distinctions and gaps are becoming too wide—to the disadvantage of particular social groups.”
She said her organisation remains committed to holding both businesses and the government accountable in ensuring fair pricing.
She concluded: “We will continue to raise awareness about unnecessary financial strain that consumers are under and the fact that both government and the business sector seem unable to offer a remedy as prices keep escalating.”
(EJ)
