Sen Tolentino proposes National Trade Commission to study US tariff impacts

Senate Majority Leader Francis 'Tol' Tolentino has proposed establishing a National Trade Commission to help the Philippines respond to economic challenges and opportunities arising from new US tariffs.

The commission would comprise experts in trade, finance, and investment tasked with studying the implications of the 17-percent tariff on Philippine exports like electronics and agriculture.

Tolentino noted that while the Philippines faces relatively lower tariffs compared to China and other nations, it presents opportunities to boost certain products for a comparative advantage.

He suggested that the commission could study how to attract manufacturers relocating from China by preparing export processing zones and promoting the Philippines as an investment destination.

However, Tolentino acknowledged that challenges such as high electricity costs complicate business operations in the country, issues that the expert panel's recommendations may address.