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...
President Marcos has departed Manila for Washington in an attempt to engage United States President Donald Trump in trade talks as global tariffs loom. Marcos left the Philippines on Sunday morning, July 20, for an official visit to Washington, D.C. upon the invitation of Trump. His visit, Marcos...
Vice President Sara Duterte is hopeful that the government can mitigate the impact of the 20 percent tariff rate that the United States will impose on Philippine goods starting next month. She said this during a chance interview outside the detention facility in The Hague, Netherlands, where she...
Not even the higher tariff that the United States (US) plans to impose on Philippine goods would dampen the local equity market, thanks to strong domestic macroeconomic fundamentals, according to global investment banking giant Goldman Sachs. In a July 11 report obtained by Manila Bulletin, Goldman...
The Philippines remains committed to economic reform and expanding trade partnerships with other countries despite Washington’s move to impose a 20 percent tariff on Philippine exports starting Aug. 1, a Palace official said. In a press briefing, Special Assistant to the President for Investment...
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...
Japanese financial giant MUFG Bank Ltd. sees a mild impact arising from the potentially higher United States (US) tariff set to be imposed on Philippine goods imported into America. “This announcement is to some extent a downside surprise for our FX [foreign exchange] and macro forecasts, given...
Department of Trade and Industry (DTI) Secretary Cristina Roque said the government remains “optimistic” about securing a beneficial trade deal with the United States (US), even as President Donald Trump hiked tariffs on Philippine goods to 20 percent. “Of course we’re always optimistic,...
