Trade Sec Pascual resigns, effective Aug 2

Trade Secretary Alfredo Pascual has resigned from his post at the Department of Trade and Industry (DTI), effective Friday, August 2, 2024.

During an interview with ABS-CBN News, Pascual said he was giving President Ferdinand Marcos Jr. a free hand to choose his successor without recommending any names.

Pascual emphasized that there was no specific trigger for his resignation and noted the need for immediate transition due to long-term implications.

The outgoing Trade chief plans to return to the private sector where he can continue contributing his expertise while spending more time with his family, leaving a summary of ongoing initiatives for MSMEs and free trade agreements.

President Marcos Jr. accepted Pascual's resignation during a meeting at Malacañang Palace on Wednesday, acknowledging his significant contributions to the Philippine economy.