With the United States (US) being the Philippines’ top export destination at the start of 2025, Moody’s Analytics said the tariffs that US President Donald Trump plans to impose on cross-border goods may hurt exporters. “A potential reciprocal US tariff due to be announced on April 2 is a...
While the Philippines would be insulated from the tariff wars initiated by United States (US) President Donald Trump, it cannot reap the potential benefits from the supply chain restructuring of affected businesses in targeted countries. This highlights the need for the Philippines to enhance the...
Just a month after President Donald Trump had threatened to put a tariff on Canadian and Mexican goods only to pause them, the US President has made good on his promise by placing a 25% tariff on vehicles imported into the US. The President said the move will spur growth and encourage greater...
Amid tariff war-saturated global uncertainty and rising domestic prices, the potential for an inflation surge weighs heavily on the central bank's contemplated April 10 interest rate reduction. Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said in an interview with Bloomberg...
The brewing tariff war between the world’s biggest economies is expected to hurt Philippine exports to the United States (US), China, and Southeast Asia, according to a new academic research. The study titled “Navigating turbulent waters: The Philippines’ global value chains experience amid...
While the tariff war among the United States, Canada, Mexico, and China is slowly turning into a potential global situation, its economic impact to the Philippines and the world remains uncertain, Chief Presidential Legal Counsel Juan Ponce Enrile said. Juan Ponce Enrile (MB File Photo) "The...
Ellson Quismorio/ MANILA BULLETIN) House Deputy Majority Leader ACT-CIS Party-list Rep. Erwin Tulfo wondered on Sunday, Nov. 10 why the prices of imported rice hasn't gone down despite the huge tariff cut imposed by the Marcos administration....
Albay 2nd district Rep. Joey Salceda (Ellson Quismorio/ MANILA BULLETIN) Economist-solon Albay 2nd district Rep. Joey Salceda says President Marcos ultimately made the right call in enforcing a huge reduction on rice tariffs, since the move is...
The Bureau of Customs (BOC) has reported a decline in revenue collection due to reduced tariffs on rice and zero-import duties on electric vehicles (EVs). According to the BOC, these policy adjustments have resulted in a combined revenue loss of nearly P9 billion in the first nine months of 2024....
The Philippine Statistics Authority (PSA) reported that the government’s decision to lower rice import tariffs is starting to affect consumer prices. In a briefing, National Statistician and PSA Undersecretary Claire Dennis S. Mapa said the tariff reduction significantly contributed to the...
(MANILA BULLETIN) House Speaker Martin Romualdez assured the public Monday, June 24 that the effects of the rice imports tariff slash would soon be felt, possibly before President Marcos' third State of the Nation Address (SONA) on July 22. "We want...
President Marcos has formalized the reduction of tariff rate on rice from 35 percent to 15 percent. MB File Photo/Mark Balmores The rice tariff cut was formalized through Executive Order No. 62 which also ordered the modification of nomenclature and tariff rates on various products to ensure...
