MAP calls for Econ Sec Council amid US tariffs

The Management Association of the Philippines (MAP) has called for the creation of an Economic Security Council under the Office of the President to address the impact of US tariffs on Philippine imports.

US President Donald Trump imposed a 17-percent tariff on certain countries, including the Philippines, which could have varying economic impacts.

MAP is urging the Marcos administration to form this council, composed of government agencies and private sector representatives, to study the effects of global trade changes on the country's economy and recommend risk-mitigating measures for local industries.

The group emphasized that while the immediate impact may be less severe compared to neighboring countries like Vietnam, Thailand, Indonesia, and Malaysia, caution is needed due to potential long-term economic repercussions.

National Economic and Development Authority Secretary Arsenio Balisacan said the government will be vigilant regarding the implications of the recently issued Executive Order by US President Donald Trump on tariff increases.