Puerto Rico seeks to lure manufacturing to boost its economy as Trump’s tariff war deepens

Puerto Rico is banking on the global trade war to help boost its struggling economy. Government officials are actively persuading international companies to move their manufacturing plants to the island, where they would be exempt from tariffs. This move could provide a much-needed lift to Puerto Rico’s economy, which is still recovering from bankruptcy and grappling with power outages.

Manufacturing is a key industry for Puerto Rico, but the government is looking to revitalize the sector by attracting companies from aerospace, pharmaceuticals, and medical devices. Officials are making efforts to showcase the island’s infrastructure to potential investors and emphasize the benefits of operating in Puerto Rico.

The push to draw more companies to Puerto Rico is seen as a logical step, especially in the pharmaceutical and medical device sectors where the island already has a strong presence. While the energy challenges persist, Puerto Rico is highlighting its jurisdiction, tax incentives, and skilled workforce as reasons for international companies to consider relocating.

However, the process of relocating operations takes time, and Puerto Rico faces stiff competition from other countries with advanced manufacturing facilities. Despite the hurdles, Puerto Rico remains optimistic about the opportunities presented by the trade war and is working to attract more businesses to the island.