US EditionPuerto Rico seeks to lure manufacturing to boost its economy as Trump's tariff war deepens
- Puerto Rico is seeking to boost its fragile economy by persuading international manufacturers to relocate operations to the island in 2025.
- This effort follows the island's emergence from historic bankruptcy amid chronic power issues and looming federal funding cuts under President Trump's administration.
- Officials with Invest Puerto Rico, led by CEO Ella Woger Nieves, have hosted site selectors, organized tours, and plan nearly 20 trips this year to highlight tariff exemptions and infrastructure.
- In 2024, Puerto Rico exported nearly $25 billion in goods, including $11 billion in vaccines, underscoring its strong pharmaceutical manufacturing sector that represents almost half its GDP.
- Despite a costly and inefficient energy system requiring alternatives, experts see the relocation push as timely but note companies often wait due to competing global manufacturers and tariff uncertainties.
19 Articles
19 Articles
Local furniture makers seek government help amid US tariff blow
Local furniture manufacturers are seeking immediate government intervention to safeguard the industry from the impact of the 17-percent tariffs imposed by the United States on Philippine goods, citing the risk of potential factory closures and job losses.In a position paper addressed to the Department of Trade and Industry, the Chamber of Furniture Industries of the Philippines, Inc. (CFIP), Pampanga Furniture Industries Foundation (PFIF), and C…
Puerto Rico Aims to Attract Manufacturing to Strengthen Economy Amid Escalating Tariff Conflicts
SAN JUAN, Puerto Rico — A global trade war is providing new opportunities for Puerto Rico as the U.S. territory strives to revive its struggling economy. Government officials are actively engaging with international companies to persuade them to relocate manufacturing operations to the island, where they can avoid tariffs. This potential relocation could significantly bolster Puerto Rico’s economy, especially as it emerges from a historic bankru…
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