Philstar
Trump’s tariffs take effect
US President Donald Trump has implemented new tariffs on numerous countries, with levies on Chinese goods now exceeding 100 percent, intensifying the global trade war and causing market instability.
Following initial 10 percent tariffs introduced over the weekend, rates on imports from economies like the European Union and Japan have been further increased.
China faces the most significant impact, with tariffs on its products reaching a total of 104 percent.
In Manila, Trade Secretary Cristina Roque stated that the Philippines will meet with other ASEAN members to discuss the bloc's response to the reciprocal tariffs.
Roque mentioned that the Philippines has an advantage due to its lower tariff rate compared to its ASEAN neighbors.
The administration's economic team agreed that retaliation is off the table.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
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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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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Asian and European stocks extended their losses on Friday, following a global rout triggered by Donald Trump's "Liberation Day" tariffs.
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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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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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