THE PHILIPPINES is unlikely to be impacted by US President Donald J. Trump’s tariff plans, S&P Global Ratings said, but warned this could change if service exports are also targeted.
“Thankfully for the Philippines, the export component of the economy is not large. The Philippines’ economy is mostly domestic and driven by consumption as well. So, largely, any impact will not be big,” S&P Global Ratings Director and Lead Analyst Ivan Tan said in a webinar on Thursday.
Markets are bracing for the potential impact of Mr. Trump’s trade policies, such as reciprocal tariffs on all countries that tax US imports.
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