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Manila Bulletin devider Business devider Trade & Industry devider FFCCCII: US tariffs to harm firms, consumers

FFCCCII: US tariffs to harm firms, consumers

Published Jul 11, 2025 05:27 pm
The Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) has warned that the imposition of the 20-percent tariffs by the United States (US) on Philippine exports could harm businesses and consumers in both countries.
FFCCCII, which comprises over 170 business and trade associations, said this is among the potential outcomes following the US’ move to raise the tariff against the Philippines from an initial 17 percent.
On Wednesday, July 9 (US time), US President Donald Trump informed President Ferdinand Marcos Jr. of his decision to increase the tariff rate as a measure to “correct” the Philippines’ trade deficit with the US.
Trump even described America’s trade relationship with the Philippines as “far from reciprocal.”
FFCCCII, in a statement penned by its president Victor Lim, said the additional “punitive” tariffs by the US violate principles of fair trade, undermining the rules-based global trading system.
Aside from impacting businesses and consumers, the group said the increased tariffs will disrupt supply chains and could set a dangerous precedent for economic fragmentation.
FFCCCII said it stands ready to support the government in using diplomacy to negotiate fairness and to protect the country’s economy and national interests.
A delegation of the country’s trade officials is scheduled to meet with their American counterparts next week to hold negotiations on the tariffs.
This will be followed by Marcos’ planned meeting with Trump in Washington, DC, on July 20 to 22.
In the meantime, FFCCCII said the government should implement strict measures to strengthen local industries.
The group said these measures include the strict enforcement of anti-dumping regulations, combatting smuggling, and launching support mechanisms for affected sectors.
The group likewise seeks strengthened multilateral engagement through World Trade Organization (WTO) mechanisms, cooperative solutions to promote stability and shared prosperity, and even negotiations for a free-trade agreement (FTA).
“The FFCCCII remains committed to advocating for fair trade practices and sustainable economic partnerships that benefit all stakeholders,” it said.

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