This article analyzes the impact of newly imposed US tariffs on goods from countries like Mexico, Canada, and China on the Filipino car market. It explains how the Philippines' existing free trade agreements with ASEAN nations and other countries will mitigate the effects of these tariffs on most car models.
Over the weekend, new US President, Donald Trump, announced he would impose tariffs on goods from countries like Mexico, Canada and China. These were part of his long-promised economic policy during his campaign and were put into effect early this week.
Over the course of this article, we’ll discuss how this will affect the Filipino car buyer and what you can expect to happen in the market in the coming months.Perhaps the best news about this development is that the Philippine car market will be relatively insulated from the effects of this new American policy. This is because the Philippines is part of the Association of Southeast Asian Nations , wherein trade between member countries is strongly being encouraged.
Perhaps the only vehicles affected will be those manufactured in the US. In Ford’s lineup, these are the new Bronco, the Mustang, and the Explorer. The Philippines does not have a free trade agreement with the US when it comes to cars. As such, these vehicles are slapped with a certain amount of tax. In addition, there’s also a high shipping cost as these vehicles have to cross the Pacific Ocean to get into our market.
As such, we can expect Chevrolet to publish some price increases. Unfortunately, they’re already quite expensive locally, with their prices comparable to luxury SUVs from Mercedes-Benz, BMW, and Lexus.Perhaps one brand that will definitely be hurting from this development is Stellantis, which counts Jeep, Dodge, Ram, and Chrysler among its subsidiaries. These brands, unfortunately, source their entire lineup from the US.
US Tariffs Filipino Car Buyer ASEAN Free Trade Agreements Ford Chevrolet Stellantis
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