The Daily Tribune
PCCI cautious re ASEAN’s pushback to Trump’s tariffs
Philippine business groups are concerned about potential retaliatory actions from ASEAN members in response to new US tariffs.
The Philippine Chamber of Commerce and Industry (PCCI) warned that retaliatory measures could disrupt global supply chains and negatively impact economic growth.
PCCI highlighted that these disruptions would be particularly detrimental to the Philippines, given its reliance on remittances and consumer spending.
The Philippine economic team plans to convene this week to discuss a unified ASEAN response to the US tariffs, supporting Malaysia's initiative.
Trade Secretary Cristina Roque confirmed the Philippines' support for coordinated action among ASEAN nations.
Malaysian Prime Minister Anwar Ibrahim has already initiated discussions with other ASEAN leaders, including President Ferdinand Marcos Jr., to strategize a bloc-wide response.
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The Philippine government, through the Department of Trade and Industry (DTI), has expressed its support for a unified ASEAN response to US President Donald Trump's export tariffs but will not engage in trade retaliation.
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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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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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The Philippine government, through Trade Secretary Ma. Cristina Roque, has stated that the Philippines will not engage in retaliatory measures against the recently imposed 17-percent tariff on certain Philippine goods entering the US market.
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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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