THE PHILIPPINES could lose as much as $1.89 billion (P107.6 billion) in exports of mostly mechanical and electrical equipment to the US if President Donald J. Trump makes good on his threat to impose higher tariffs, according to a House of Representatives think tank.
The amount could fall to a net loss of $1.6 billion due to so-called trade diversion benefits, the Congressional Policy and Budget Research Department (CPBRD) said in a report released this month.
“A common feature of these products is that they currently benefit from minimal to zero US tariffs, making them particularly vulnerable to the imposition of higher duties,” CPBRD authors Mark Carmelo R. Manguera and Dawndale Albert O. Tanilon said in the 38-page discussion paper.
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