Rappler
Trump tariffs will hurt PH GDP growth by 0.1% in two years – NEDA
The Philippine government's economic team, specifically the National Economic and Development Authority (NEDA), estimates that US reciprocal tariffs of 17% on Philippine exports could reduce the country's gross domestic product (GDP) by 0.1% in the next two years.
Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go acknowledged that while the Philippines received a relatively low tariff compared to China, it will still lead to higher prices for Philippine exports.
Go stated that any additional tariffs can impact certain Philippine industries, and the economic team is currently assessing the specific local sectors that will be most affected.
However, President Trump has placed a pause on these reciprocal tariffs, with exceptions only for China.
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News Sources
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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The ASEAN+3 Macroeconomic Research Office (AMRO) forecasts that the Philippines might fall below its six percent economic growth target for 2025 due to the impact of reciprocal tariffs imposed by the United States.
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Moody's Analytics has lowered its 2025 GDP growth forecast for the Philippines to 5.8% from 5.9% due to the anticipated impact of US reciprocal tariffs.
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The National Economic and Development Authority (NEDA) stated that current US tariffs are likely to result in a minimal positive impact on the Philippine economy, potentially increasing exports by 1.5% but with a less than 0.5% effect on the Gross Domestic Product (GDP).
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Malacañang stated that the 17% reciprocal tariff imposed by the US government on Philippine exports will have a minimal impact on the country.
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