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,...
The Marcos administration will send a delegation to the United States next week to negotiate a potential lowering of the newly imposed 20 percent reciprocal tariff on Philippine exports, a move that the government described as concerning. Special Assistant to the President for Investment and...
WASHINGTON — President Donald Trump singled out Brazil for import taxes of 50% on Wednesday for its treatment of its former president, Jair Bolsonaro, showing that personal grudges rather than simple economics are a driving force in the U.S. leader’s use of tariffs. Trump avoided his standard...
With new tariffs turning out “worse than expected” for Asian economies, Dutch financial giant ING said the Philippines’ exclusion from the revised list could give the country a trade advantage, potentially allowing it to outperform its regional peers. “Interestingly, countries like India,...
With the return of United States (US) President Donald Trump’s tariffs on the horizon, the Philippine peso may be advantaged by the economy’s relatively less exposure to global trade, according to Japanese financial giant MUFG Bank Ltd. “We are most positive on the currencies of...
Malacañang said the Philippines is prepared for any scenario as it continues to negotiate a reciprocal tariff agreement with the United States. Communications Undersecretary Claire Castro said this as US President Donald Trump 's 90-day pause on the “Liberation Day” tariffs expires on...
Despite double-digit exports growth in the first five months of the year, economic think tanks expect the sales of Philippine-made goods overseas to falter in the second half, especially if United States (US) President Donald Trump pushes through with his tariff spree. “Exports are also likely to...
Philippine economic growth would likely further slow in the next two years to remain below the government’s more ambitious annual targets amid a global deceleration fueled by trade and geopolitical tensions, according to the Washington-based Institute of International Finance (IIF). A June 25...
Department of Trade and Industry (DTI) Secretary Cristina Roque is open to the proposed extension of trade talks with the United States (US), as the government races to lower the reciprocal tariffs the Philippines is set to face on July 9. Roque expressed this sentiment on Wednesday, June 18,...
