Chief of Staff Lionel Max Hurst says uncertainty over U.S. trade policy is already affecting the global financial market, despite no formal implementation of new tariffs or visa suspensions.

“The U.S. has not suspended visas as yet. There’s a threat, but that threat has not manifested itself,” he said during the post-Cabinet press briefing. “So government officials are still able to— I think you meant tariffs,” he clarified in response to a reporter’s question.

Speaking on the suspension of proposed tariffs for 90 days, Mr Hurst acknowledged that the economic effects were more psychological than material—at least for now.

“The tariffs have not been implemented. We don’t know. They said 90 days. But still, the uncertainty which it creates… does a lot of things to the financial markets that are not good,” he said.

He noted that even rumours of instability can cause significant disruption. “This has historically been the case. Even rumours sometimes have caused the financial markets to go down,” he said.

Mr Hurst added that the potential fallout from U.S. decisions is amplified due to the country’s economic influence. “Since it is issued by the head of state of the United States, it has reverberating effects,” he said.

He also pointed to shifting international trade patterns in response to the climate of uncertainty. “Many countries are planning to begin selling to each other rather than to sell to the United States. That is for sure one of the effects that is now taking place,” he said.

The comments come amid wider concerns in the region over the impact of U.S. trade policies on smaller economies.