MOODY’S ANALYTICS trimmed its gross domestic product (GDP) forecast for the Philippines amid “weaker growth prospects” due to the impact of the US reciprocal tariffs.
“The US dealt the Philippines a harder blow than we expected, declaring a 17% tariff, so we have trimmed our GDP growth forecast to 5.8% from 5.9% in our March baseline,” it said in a report.
“Again, we’ll have to wait and see whether the diluted 10% tariff will last long term or revert to 17%.”
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