US President Donald Trump's announcement of punitive tariffs against Canada, Mexico, and China has caused widespread concern among trading partners, including the Philippines. While the tariffs against Canada and Mexico were temporarily suspended, the threat of future protectionist measures remains. The article analyzes the implications of Trump's erratic trade policy and urges the Philippines to diversify its economic relationships.
AS he had pledged repeatedly during his election campaign and in the weeks before formally taking office, US President Donald Trump announced sweeping punitive tariff increases against Canada, Mexico and China over the weekend, to take effect on Tuesday, Feb. 4.
Speculations as to why Trump quickly and rather embarrassingly reversed himself on the tariffs aimed at Canada and Mexico abound, but here is one possible explanation. Either Canada or Mexico is the largest foreign trading partner in 34 of the 50 states plus the District of Columbia. Of those 34, 23 are states Trump won in the 2024 election, with trade with Canada or Mexico averaging 28 percent of those states' gross domestic product .
TRADE WAR PROTECTIONISM GLOBAL ECONOMY PHILIPPINE ECONOMY US FOREIGN POLICY
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