Puerto Rico seeks to lure manufacturing to boost its economy as Trump's tariff war deepens
- Puerto Rico is seeking to attract international manufacturing firms to relocate to the island amid the ongoing global trade war in 2025.
- This effort follows Puerto Rico's emergence from historic bankruptcy and the administration's plan to reduce tariffs on goods produced there.
- Officials including Invest Puerto Rico's CEO Ella Woger Nieves are promoting the island’s infrastructure and tariff exemptions while targeting 75 to 100 potential relocating companies.
- Manufacturing makes up almost half of Puerto Rico’s GDP, and in 2024, the territory shipped close to $25 billion in goods abroad, including $11 billion in vaccines and $7 billion in medicaments.
- While this strategy could bolster Puerto Rico’s fragile economy, chronic power outages and competition from advanced Asian manufacturers pose significant challenges to growth.
29 Articles
29 Articles
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