Caribbean Basin Economic Recovery Act

The Caribbean Basin Economic Recovery Act (CBERA), enacted in 1983, provides preferential trade benefits to Caribbean nations, reducing tariffs on many goods they export to the U.S. This helps promote economic growth and jobs in the region by encouraging trade. The act aims to support economic development in smaller Caribbean economies, foster regional stability, and strengthen U.S.-Caribbean relationships. It essentially grants these countries easier access to the U.S. market, incentivizing economic activity and investment, while also offering some protections for U.S. businesses.