Even with the weaker-than-expected gross domestic product (GDP) growth figures last year and in recent quarters, the Department of Finance (DOF) argued that the Philippine economy grew at an average rate of 5.9 percent—among the fastest-growing Asian economies—since President Ferdinand Marcos...
With a soon-to-be-finalized trade deal that benefits the United States (US) more than the Philippines, the latter’s exports and foreign direct investments (FDIs) would take a hit and lose out to its Southeast Asian neighbors, according to the Economist Intelligence Unit (EIU). “The...
DAVAO CITY – Acting Davao City Mayor Sebastian Duterte downplayed the one percent reduction of the 20 percent tariff imposed on Philippine goods to 19 percent as an empty gesture, calling it “consuelo de bobo” or a false consolation. Duterte questioned the importance of the announcement and...
The Philippine government remains optimistic about a potential reduction in the tariffs threatened by the United States (US) against the country’s imports, although it will no longer offer additional concessions, according to Department of Trade and Industry (DTI) Secretary Cristina Roque. Roque...
The Federation of Free Farmers (FFF) has called on the government to fully disclose the details of its recent tariff negotiations with the United States (US) due to conflicting statements and widespread speculation. In a statement on Friday, July 25, Raul Montemayor, FFF national manager, said...
Senator Francis "Kiko" Pangilinan said the reported outcome of the Philippine-United States trade deal that would impose a zero tariff rate for US goods entering the Philippines will have a negative impact on the country’s agricultural production and the livelihoods of farmers and fisherfolk. ...
Malacañang has assured the public that the government did not offer Philippine agricultural products as concessions in the “still ongoing” negotiations with the United States to lower tariffs on local exports. Special Assistant to the President for Investment and Economic Affairs Secretary...
With President Ferdinand Marcos Jr. only managing to secure a one-percentage-point (ppt) reduction in tariffs on Philippine exports to the United States (US), the country is seen to lose its “minimal” competitive edge over its regional peers—an advantage it enjoyed due to a strong peso and...
Amid trade tensions between Washington and Beijing, China is increasing exports to emerging markets (EMs) like the Philippines, to reroute shipments to the United States (US), think tanks said. “US tariffs appear to have given renewed impetus to Chinese producers’ efforts to export to EMs,...
WASHINGTON — President Donald Trump said he has reached a trade agreement with Philippine leader Ferdinand Marcos Jr., following a meeting Tuesday at the White House, that will see the U.S. slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there....
Despite United States (US) President Donald Trump’s surprising decision to raise tariffs by three percentage points on Philippine exports, the foreign exchange (forex) market showed minimal concern, according to Dutch financial giant ING. “While Trump’s tariff hike on the Philippines—from...
Finance Secretary Ralph G. Recto said the Philippines could consider accommodating zero tariffs on certain American goods entering the local market as President Ferdinand Marcos Jr.’s economic managers prefer more free trade agreements (FTAs)—including with the United States (US) after the...
