• China, Japan and South Korea agreed to jointly respond to U.S. tariffs, a social media account affiliated with Chinese state broadcaster CCTV said on Monday. The comments came after the three countries held their first economic dialogue in five years on Sunday, seeking to facilitate regional trade as the Asian export powers brace against U.S. President Donald Trump's tariffs.
• Japan and South Korea are seeking to import semiconductor raw materials from China. China is also interested in purchasing chip products from Japan and South Korea, the account, Yuyuan Tantian, said in a post on Weibo.
• All three sides agreed to strengthen supply chain cooperation and engage in more dialogue on export controls, the post said. During Sunday's meeting, the countries' trade ministers agreed to "closely cooperate for comprehensive and high-level" talks on a South Korea-Japan-China free trade agreement deal to promote "regional and global trade", according to a statement released after the meeting.
• The ministers met ahead of Trump's planned announcement on Wednesday that there would be more tariffs on what he calls "liberation day" as he upends Washington's trading partnerships.
• Beijing, Seoul and Tokyo are major U.S. trading partners, although they have been at loggerheads amongst themselves over issues including territorial disputes and Japan's release of wastewater from the wrecked Fukushima nuclear power plant.

Source: (Reuters)

• Mexico's government may look for other trade partners, the nation's president said on Wednesday, after the United States slapped tariffs on its southern neighbour. President Claudia Sheinbaum said that Mexico could shift trade alliances "if necessary," referring to the possible continuation of the tariffs.
• S. President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with fresh duties on Chinese goods, standing to seriously alter supply chains and long-standing trade partnerships.
• Sheinbaum is tentatively set to have a phone call on Thursday with the U.S. leader about the tariffs, she said in her daily morning press conference. If the tariffs continue after that, Mexico "will reach out to Canada and other nations," Sheinbaum noted. "It is a very definitive moment for Mexico," Sheinbaum said. "Our economy is fine, but there will be no submission. ... Depending on the circumstances, we will look to Canada and other countries."
• The Mexican peso slightly strengthened by 0.84% on Wednesday to 20.41 per U.S. dollar. In an appeal to Mexican national pride, Sheinbaum has called for a rally on Sunday in Mexico City's historic Zocalo square where she will outline her response to the United States, which she said would include retaliatory tariffs.
• S. Commerce Secretary Howard Lutnick said on Wednesday that an announcement on tariffs could come later in the day, hinting at possible relief for some sectors such as automobiles. The auto sector stands to take a heavy hit from tariffs, with parts typically crossing the border several times as cars are assembled. The United States imported $181.4Bn in autos and auto parts from Mexico in 2024, representing nearly 10% of Mexico's economy, according to Goldman Sachs.

(Source: Reuters)

• Barbados Chamber of Commerce and Industry (BCCI) head James Clarke has called for urgent reforms to address persistent delays at the Bridgetown Port, warning that inefficiencies are stifling business operations and undermining the country’s economic growth.
• Clarke called for urgent action to streamline port logistics, reduce bureaucratic red tape, and modernise trade and investment policies to position Barbados as a more competitive global player. The BCCI president said port bottlenecks remain one of the most pressing concerns for the local business community, highlighting frustrations over costly delays and inefficiencies that have plagued importers and exporters alike.
• These issues, he stressed, must be addressed as part of a broader strategy to improve the ease of doing business in the country. “Delays at the port continue to affect our business community, impacting supply chains and creating unnecessary hurdles for trade,” Clarke added.
• Addressing an audience of business leaders and policymakers, Clarke outlined the chamber’s agenda for 2025, identifying regulatory reform, digital transformation, and business advocacy as key priorities. He said the chamber would continue working closely with the government and social partners to implement policies aimed at reducing bureaucracy, modernising business practices, and making Barbados a more attractive destination for investment.

(Source: Barbados Today)

• Edufocal Limited (LEARN) reported a net loss of $57.97Mn for the twelve months ending in December, due to a decline in revenue and higher costs.
• Revenue for the year 2024 was J$97.17Mn, a sharp dip (63.1%) from J$263.54Mn in 2023. This decrease is primarily due to the shift towards a more predictable and resilient revenue model, which has temporarily impacted topline performance.  The company has started monetising its proprietary technology platforms and is exploring licensing agreements to further expand its revenue.
• Administrative expenses increased by 20.6% compared to the previous year, driven by investments in technology. However, these costs were partly offset by savings achieved through optimized staffing and renegotiated vendor contracts.
• LEARN’s stock price has decreased by 19.4% since the start of the calendar year and has lost 71% percent in market value since being listed in March 2022. The stock closed Tuesday’s trading session at $0.29.
• Throughout the year, the company has focused on expanding into new markets and exploring partnerships to generate recurring income, recognising the limitations of its traditional revenue streams.  The expanded 'Quizzitive' platform, along with strategic partnerships and market expansion efforts, is expected to drive incremental revenue growth, ultimately delivering long-term value for shareholders. However, the shift towards a more diversified revenue base and recurring income is expected to stabilise revenue in the long term.
• While expanding its technology could enable the company to scale more quickly, it will incur significant costs to build out. Additionally, acquiring new customers may take longer than expected, potentially impacting earnings.

(Sources: JSE & NCBCM Research)

• The poultry sector is continuing a growth path with farmers expanding their production to meet local needs and beginning to focus on addressing regional demand, says the Minister of Agriculture, Fisheries and Mining, Hon. Floyd Green. He noted that the sector has seen a 22.4% increase per annum over the last 10 years.
• Minister Green, who was addressing the recent opening of Caribbean Broilers (CB) Group’s multimillion-dollar Air Chill Poultry Processing Plant in Hill Run, St. Catherine, noted that despite losing more than 300,000 birds in Hurricane Beryl, the poultry/broiler sector showed a 3.3% growth at the end of 2024.
• “We have also seen that growth in egg production, which again, we probably do not speak about enough, was one of the major successes of the agricultural sector. In 2019, our egg production was 166Mn eggs. In 2023, we produced 255Mn eggs, representing a 54% increase,” the Minister reported.
• Large firms are also providing leadership and guidance to the smaller operators, training them in good agricultural practices and animal husbandry, offering high-quality inputs to improve productivity, reduce mortality and get greater returns on their investment.
• For example, the Minister noted that the work being done by the CB Group through NutriMix and its genetic station in Old Harbour, St. Catherine, is improving the breeds to farmers and ensuring that they get chicks at an affordable cost while also providing them with veterinary services. This integrated approach, he said, has not just benefited the company but agriculture in general.

(Source: JIS)

• Prime Minister, Dr. the Most Hon. Andrew Holness, has reiterated the Government’s commitment to ensuring that all Jamaicans have access to affordable housing solutions. He noted that there is an imbalance between housing supply and affordability, with many qualified individuals struggling to find solutions within their income bracket.
• The market is producing homes primarily for those with higher incomes, leaving a gap for low and middle-income families. In addition, houses priced at $12Mn are often sold for $18Mn due to market demand dynamics. “What we want to do is to get the market to produce houses in all categories,” he said, stressing the need for affordable options alongside high-end developments.
• “We need developers who can build houses at scale to bring down costs and make housing more affordable,” he stressed. The Prime Minister noted the role of the National Housing Trust (NHT) in financing low-income and achievable housing projects.
• “We’re doing everything to create what is called effective demand,” he said, noting that the Guaranteed Purchase Programme was introduced as a strategic measure to mitigate market risks for developers. “We say to developers; you build the houses, we buy them at a specific price and then we sell them at an affordable price,” he detailed. This approach aims to encourage developers to construct homes without fearing financial losses.
• The Prime Minister cited other initiatives aimed at making housing more affordable, including reducing the interest rates on mortgages, with some low-income borrowers benefiting from a zero percent interest rate. Efforts are underway to deliver 43,000 houses over the next few years as part of a broader strategy to meet housing demands.

(Source: JIS)

• Peru's gross domestic product expanded 3.93% in November compared with the same month of 2023, marking the eighth-consecutive month of economic expansion, the South American government's INEI statistics agency said on Wednesday.
• November's economic expansion in the world's second-largest copper-exporting nation landed comfortably above the 3.1% forecast of analysts polled by Reuters, and topped October's growth rate of 3.38%.
• Peru also saw double-digit growth in its farming and fishing sectors, growing 12.4% and 17.6%, respectively. Peru is a top producer of fishmeal, a fertilizer made using anchovies. The manufacturing sector also grew by 6.7%. Its key mining and hydrocarbon sector; however, dipped 2.2% while its construction sector shrunk 2.4%.
• INEI attributed the lower mining output to less production of metals such as copper, zinc, gold, lead and molybdenum, even as Peru increased its hydrocarbon output.

 (Source: Reuters)

• With one million international passengers transiting in and out of its ports, Guyana achieved a significant milestone in 2024, surpassing President, Dr. Mohamed Irfaan Ali’s initial prediction for 2025.
• The number of travellers reflects the country’s economic development and the opportunities that come with it. Guyana is also gaining attention as a unique destination for its culture and wide variety of tourism products. The Chief Executive Officer of the Cheddi Jagan International Airport (CJIA), Ramesh Ghir, disclosed on Saturday during a year-end press briefing.
• At the end of 2024, Guyana recorded 1,072,785 passengers that were processed across four key ports of entry: the Cheddi Jagan International Airport (CJIA), Eugene Correia International Airport (Ogle), Lethem Border Crossing and Moleson Creek Crossing. According to Ghir, this is 142,785 more passengers than the 930,000 processed in 2023, amounting to an increase of 15%.
• Given the increase in travellers, seating increased from 1,244,178 in 2023 to 1,491,909 in 2024. This represents a 20% increase, improving affordability and choice for passengers. “Additional aircraft seating means there is more choice as a passenger and it brings down the cost of the ticket. That’s why it’s important that we have additional seats,” Ghir said.
• The international airport continues to be a key driver of national economic growth, with efforts underway to modernise operations and enhance passenger experience.

(Source: Guyana Chronicle)

• The Dominican Republic continues to shatter tourism records, with a staggering 9,082,298 visitors arriving in the country during the first ten months of 2024. October alone saw an influx of 719,849 tourists, further solidifying the nation’s position as a top-tier tourist destination.
• “These results are a testament to the Dominican Republic’s unwavering appeal as a premier tourist destination,” said Minister Collado. “Our diverse offerings, coupled with world-class hospitality, continue to attract visitors from around the globe.”
• The Dominican Republic’s success can be attributed to both air and sea arrivals. Between January and October, the country welcomed 6,984,569 tourists by air, representing a 30% increase compared to 2019, a 20% jump from 2022, and a 7% growth over the previous year. Additionally, cruise ship arrivals reached 2,097,729 during the same period.
• “October was another outstanding month for Dominican tourism,” said Minister Collado. Air arrivals alone reached 554,169, marking a 49% increase compared to 2019, 13% more than 2022, and a 4% growth over the previous year. Cruise ship arrivals also surged to 165,680, representing a 155% increase compared to 2019, 88% over 2022, and 88% compared to last year.
• With these exceptional results, the Dominican Republic is well on its way to surpassing its goal of attracting 11.5Mn visitors by the end of the year. The nation’s thriving tourism industry is not only boosting the economy but also creating numerous job opportunities for locals.

(Source: Dominican Today)

• Earlier this week, the association that represents the interests of some of the most important oil service providers in Mexico asked state company Pemex to pay overdue debts totalling 103.6Bn pesos ($5.1Bn).
• Mexican President Claudia Sheinbaum said on Thursday that the debt burden accumulated by state energy company Pemex with suppliers would be reviewed and various payment mechanisms are being studied and refined.
• Pemex has a financial debt of $97.3Bn and owes service providers another $20.5 billion. Despite efforts to reduce debt under Sheinbaum's predecessor Andres Manuel Lopez Obrador, the company remains one of the world's most indebted energy companies.
• "A review is being carried out, which is normal," President Sheinbaum said during her regular news conference, without giving details.
• Under the six-year administration of Sheinbaum, who took office on Oct. 1, Pemex will seek to maintain average crude oil production of 1.8Mn barrels per day, but its debt burden is making that challenging.

(Source: Reuters)