Philippines urged to boost competitiveness amid US tariff pause

The Philippines must enhance its competitiveness in attracting investments amid a 90-day pause on US President Donald Trump's higher reciprocal tariffs.

Robert M. Young, president of the Foreign Buyers Association of the Philippines, urged the country to sharpen its capabilities and focus on major export categories like agricultural products, electronics, minerals, and garments.

Philippine Chamber of Commerce and Industry Chairman George T. Barcelon noted that while the pause offers some relief, it is crucial for the Philippines to prepare for potential reimposition of tariffs.

ASEAN economic ministers expressed concern over unilateral US tariffs but committed not to impose retaliatory measures, emphasizing the need for dialogue with the US to address trade-related issues.

A survey by Milieu Insight revealed that 61% of Filipinos lack confidence in their government's ability to manage the impact of US tariffs, and 79% expect these tariffs to have a negative effect on the economy.