Inquirer
Concerned about US tariffs, MAP urges creation of economic security council
Business leaders in the Philippines, represented by the Management Association of the Philippines (MAP), are urging the government to establish an Economic Security Council to assess the economic repercussions of the 17 percent tariff imposed by the United States.
MAP President Alfredo Panlilio and Rene Almendras, chair of MAP's National Issues Committee, signed a statement expressing grave concern over the impact of these reciprocal tariffs, which take effect on April 9.
They recommended that the proposed council operate under the Office of the President and include key government agencies as well as relevant private sector and industry representatives.
MAP highlighted that while the Philippines may not be as negatively affected as other nations initially, the global economy's integrated nature means potential contagion effects could eventually impact the country.
The council's primary objective would be to study the effects of these new global trade developments on the Philippines' economic security.
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The Management Association of the Philippines (MAP) has voiced strong opposition to the new 17 percent import tariff imposed on Philippine goods bound for the United States, deeming it a potential economic crisis.
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The Philippine Chamber of Commerce and Industry (PCCI) is urging the government to implement swift and strategic actions to mitigate the economic impact of the United States' new 17 percent tariff on Philippine goods.
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US President Donald Trump announced a 17% reciprocal tariff on all Philippine goods, effective April 9, as part of his "Liberation Day" tariff plan impacting 11 ASEAN countries.
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Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go will travel to the United States to meet with US Trade Representative Jamieson Greer regarding President Donald Trump's announced 17% reciprocal tariff on Philippine goods.
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Trade ministers of the Association of Southeast Asian Nations (ASEAN) convened virtually on April 10 to discuss a united response to reciprocal tariffs imposed by US President Donald Trump.
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