US President Donald Trump's push to raise duties on imports could open opportunities for the Philippines, the chief of the Export Marketing Bureau (EMB) said.
US President Donald Trump 's push to raise duties on imports could open opportunities for the Philippines, the chief of the Export Marketing Bureau said.'Higher tariffs to be imposed on imports from China, Canada, Mexico may create a trade diversion effect that can potentially benefit third countries like the Philippines,' EMB Director Bianca Sykimte told The Manila Times.
Sykimte said that based on 2023 data, nearly 50 percent of the US trade deficit stemmed from goods bought from China, Mexico and Vietnam. The Philippines, meanwhile, only accounted for 0.4 percent of $1.1-trillion trade shortfall that year.She warned that retaliatory measures by targeted countries would exacerbate the situation, pointing to the trade wars that were ignited when Trump raised tariffs in 2018 during his first term as US president.
Chief: Trump Tariff Move Could Benefit PH
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