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Businesses nervous about Trump

The local commercial sector is worried about the possible impact for business here of yesterday’s surprise election results in the United States in which the Republican candidate, businessman Donald Trump defeated the favourite, Democrat Hillary Clinton.

And President of the Barbados Chamber of Commerce and Industry (BCCI) Eddie Abed, anxious over Trump’s hostile and nativist rhetoric during the campaign, told Barbados TODAY he could only hope for a different man in the White House from the Trump who threatened to deport the estimated 11.3 million illegal immigrants, build a wall along the US border with Mexico and reverse many of the social policies introduced by president Barack Obama which were beneficial to people of Caribbean descent.

For now, all Barbadian businesses can do is wait and see, Abed said.

“I am hoping that his rhetoric was a lot more venomous than his actual stewardship as the president of the United States [will be]. I can only assume and hope so. Absolutely, it is too early to say [but] I think Barbadian businessmen like any other Barbadians are surprised at the results. It is beyond comprehension in my mind, but it is a reality now and we are going to all have to come to deal with it and as I say we are hoping that his bark is a lot worse than his bite,” the BCCI head said.

News of Trump’s victory sent jittery global markets spiralling, and although Wall Street reacted positively,
experts have warned that the global economy faces a very uncertain future.

Abed compared yesterday’s election result to Britain’s Brexit vote in June, following which the pound fell to a 30-year-low and is yet to recover.

The businessman said Americans must now ask themselves some tough questions about their country’s position in the world and its responsibility as the world’s richest nation.

Regarding Trump’s stated policy on immigration, Abed expressed concern over the impact it would have on members of the Caribbean Diaspora, particularly the undocumented ones.

In any event, he predicted, mass deportation would not only hurt Barbadian and Caribbean economies, mostly through the loss of remittances, but said American businesses would also take a hit.

The BCCI head explained that it was through the low wages that people living illegally in the US were paid that businesses there were able to keep prices down.

Any mass deportation, he said, would result in an immediate impact on prices and the merchant class on a whole.

“Americans like to go into the supermarkets and buy carrots for $0.99 cents a pound and tomatoes for $0.99 a pound, for example, and the only way one can achieve that is by paying labour under the minimum wage. And the labour that does that work for the Americans in America is undocumented, illegal immigrants.

“So the dilemma is that if you get rid of all of these undocumented illegal [immigrants], how are you going to be able to sell produce, which is very labour intensive, at a price that the consumers in America expect and demand? So that is an issue they are going to have to deal with. Not to mention that these undocumented [workers] pay taxes and they pay other social services that will immediately dry up once you get rid of them. That is a whole issue they are going to have to come to deal with and realize and put some form of mechanism in place,” Abed warned.

marlonmadden@barbadostoday.bb

5 Responses to Businesses nervous about Trump

  1. Carson C Cadogan November 10, 2016 at 10:18 am

    You all are just disgusting.

    President Trump has not even settled in as yet but you are predicting gloom and doom already just as you did here in Barbados.

    Reply
  2. jrsmith November 10, 2016 at 10:44 am

    Business nervous about Trump, be honest you people explain what the hell are you people nervous about.. you have no effect on anything economically or politically ..
    It so happens we have serious issues with chicken wings and buying water , seaweed invading our coast line and no water out the taps…
    We cannot see where our education has taken us. we cannot present to ourselves a working formula to get our country moving.
    we have fail at everything ..
    Barbados had the chance, a head start to most of the world in solar technology we blew it, because of laziness and management skills…
    We had the chance to be doing serious business with Cuba we blew that as well…
    We should have put together a team to meet with the (UK) Priminister since (Brexit) has that been done tell us…and now we have to get it together to take on the Donald so who will do the honours, who is capable….we are just not with it……

    Reply
  3. Sarifa Patel November 10, 2016 at 10:45 am

    Well said Mr. Abed. Trumps hostile attitude towards the immigrants in the USA is a major issue and one must not forget that Trump is a KKK man. Trump will create many problems for the USA as he is being guided by Putin of Russia to whom he prefers to listen than to members of his own party.
    You know its amusing that he wants to get rid of what he calls non americans, yet we are having the first illegal immigrant as a First Lady how ironic.
    America was never the so called American Whites in the first place they ousted the Indians by killing many and taking over the land. In actual fact America belongs to the Indian on the reservations. Trump is an excuse for man but then also are the men who support him in his quest against the degrading of women such as those who makes comments on his behalf.
    For your info. Mr. Cadogan the Abed family has been in this island for over 70 years and many of their children are born barbadians and Mr, Shouket Abed (God rest his soul) has always supported and done much for those in this island. You may be a johnny come lately but before making asinine comments get your facts straight.

    Reply
  4. Alex Alleyne November 10, 2016 at 4:07 pm

    You can hang up a HORSE SHOE.

    Reply
  5. Sheron Inniss November 10, 2016 at 4:09 pm

    Why is a corrupt candidate better than an obnoxious one? I expected Mr Trump to win because all human beings are basically the same. They want to be treated fairly and those of you who say that was happening in the USA must be blinder than me. Mr Obama didn’t do much for us in Barbados so what is all the fuss about. The unknown entity maybe. Do you recall the Bible story about David(God’s own) and Bathsheba? Are any of you familiar with the devil organization with which the Clintons and other high profile world leaders are said to be associated with? The God I believe in beginning to drain the swamp. Mr Trump knows what I am talking about and so does Putin. Mr Trump was endorsed by the kkk; that does not make him a member. Just for a sec think about our last elections. The DLP promised no jobs would be lost when it was obvious to anyone with a little common sense that was nigh impossible. They won. You all remembered what happened next? Human beings are the same worldwide. Somewhere to call home, a decent standard of living for themselves and family, etc. The illegals in little Bim causing a lot of problems. You all feel it different anywhere else? I can’t claim perfection so I will wait and see. It is not as if Mr Trump is the first president who hasn’t got a clue. My Bible also tells me that God told his children not to have any dealings with child sacrifice. That devil organization up to its ears in such. I am not letting a fellow determine a thing for me. I shall use the little common sense God grant me and come to my own conclusions. I shall wait and see.

    Reply

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