Govt unlikely to counter Trump tariffs By Andrea E. San Juan
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HE Philippine government is not planning to counter Trump’s tariff moves, saying the new trade policy of the United States is even advantageous for certain local goods. In an interview with reporters on the sidelines of the National Food Fair held in Mandaluyong city on Wednesday, Trade Secretary Cristina A. Roque said the government is unlikely to retaliate against Washington for slapping the additional 17-percent tariff on Philippine exports. “We don’t have any of those [retaliatory moves]. We just want to increase trade with other countries,” she added. Roque made this pronouncement after she
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revealed that Asean economic ministers will have a virtual meeting on Thursday to discuss the plans of member-states regarding the reciprocal tariffs imposed by Washington. “On Thursday we have a meeting with the ministers all over Asean where we will discuss the stand of all member-states. Of course, we are Asean and we need to bond together,” she said. While the Philippine economic team convened on Tuesday over the reciprocal tariffs imposed by the US government, Roque said the country’s economic managers which include the heads of the government agencies such as the Department of Finance (DOF), National Economic and Development Authority (NEDA), and the Bangko Sentral ng Pilipinas (BSP) have not yet discussed the concessions that the country will offer.
“We just wanted to discuss also what are the possibilities of how we can strengthen trade just in case it remains at 17 percent or let’s say the other countries are reaching out to us so that we can have a unified Asean stand on the tariffs,” she said. As for bilateral talks with Washington, Roque said the Philippines is still awaiting word from her US counterpart. “The president has already instructed me three weeks ago to pursue this and we have already written to them also for the meeting but I guess they’re busy because there are so many issues about the tariff,” she added. Despite the disruptions that may be triggered by the US-led trade war, Roque said she remains optimistic that Philippine goods, such as coconut-based products and dried mangoes, will enjoy an advantage.
“At 17 percent tariff, definitely, the Philippines will have an edge like for example products, our main competitor is Thailand which was slapped a reciprocal tariff rate of 36 percent,” she added. Dried mangoes, she said, will also be relatively cheaper compared to those coming from Cambodia whose exporters will have pay additional tariffs of 49 percent. While the reduction of reciprocal tariffs may be the “best option,” Roque said it may be best for the Philippines to shift its focus on the opportunities presented by the new trade policy of the US. “To lower the tariff would always be best but for me now it’s really for us to really look at the opportunity rather than to look at the things that are not working out,” she said.
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Asean told to hasten economic integration
By Reine Juvierre S. Alberto @reine_alberto
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ESPITE the Philippines’s “strong” macroeconomic fundamentals, heightened trade policy uncertainties and their spillover effects could dampen the country’s growth, according to the Asian Development Bank (ADB).
By Malou Talosig-Bartolome
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In a briefing on its Asian Development Outlook, the Manila-based multilateral lender revised downwards its forecast on Philippine economic growth this year to 6 percent in from 6.2 percent. See “ADB,” A2
‘ICE detentions to have chilling effect on travel of Fil-Ams to PHL’ By Ma. Stella F. Arnaldo Special to the BusinessMirror
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HE United States market should also be concerning to government officials and private sector tourism stakeholders due to a possible slowdown in FilipinoAmerican arrivals. This developed as a few FilipinoAms have already been detained by the United States Immigration and Customs Enforcement (ICE), after the Trump administration began cracking down on alleged illegal aliens with criminal records. This could temper green-card holders to hold off their travel to the Philippines, an analyst believes. Randi Alampay, associate professor at the Asian Institute of Tourism at UP Diliman told the BusinessMirror, “There’s going to be a chilling effect on See “ICE,” A2
PETAL POWER Thousands of devotees filled the Smart Araneta Coliseum on Wednesday, April 9, 2025, for the Congress on Prayer II: Confidence in Love—a grand celebration marking the 100th year since the canonization of Saint Thérèse of the Child Jesus. Organized by the Missionaries of the Poor and the Military Ordinariate of the Philippines, the event featured prayer, praise, and testimony inspired by the spirituality of the beloved “Little Flower,” whose message of simplicity and trust in God continues to resonate with Filipinos today. NONOY LACZA
INGAPORE and Malaysia, two of the founding members of the Association of Southeast Asian Nations (Asean), are pushing to fast-track the economic integration of the regional bloc to cushion the impact of US President Donald Trump’s tariffication regime. In a speech before the Singaporean Parliament, Singapore Prime Minister Lawrence Wong said that he and Malaysian Prime Minister Anwar Ibrahim spoke last Friday about Trump’s reciprocal tariffs. Ibrahim is the chair of the Asean Standing Committee this year. “We agreed to accelerate Asean’s integration efforts to make our region more attractive and competitive,” Wong said. Aside from Wong, the Malaysian prime minister also spoke with President Ferdinand Marcos Jr., Indonesian President Prabowo Subianto and Brunei Sultan Hassanal Bolkiah last Friday. (See related story: https:// businessmirror.com.ph/2025/04/07/ malaysia-leads-asean-response-on-ustariffs/) At the Asean Conference Investment Conference in Kuala Lumpur Wednesday, Ibrahim said the $3.5-trillion total trade in goods by all the Asean members is now at risk with Trump’s tariff scheme. “With the barrage of tariffs sweeping across the world in fast and furious fashion, we are witnessing the fraying of the global order. Therefore, Asean must rely more on itself,” Ibrahim said in his speech. He called on members to strengthen its intra-Asean trade, to “move beyond rhetoric to execution.” “Tariff liberalization within the region is largely complete, but regulatory alignment, cross-border logistics, and digital connectivity remain unfinished business,” Ibrahim said. He said under Malaysia’s leadership, Asean will also prioritize the revitalization of Asean Plus 3 and other strategic platforms. Asean Plus 3 includes the 10 Asean members and China, Japan and South Korea. “Asean has always been a creature of evolution, not revolution. Its strength lies not in drama, but in durability. Over nearly six decades, it has withstood wars, crises, and coups, and still managed to inch forward, often frustratingly, but forward nonetheless,” he said. “The Trump tariffs are not the first challenge to multilateralism, nor will they be the last. But if Asean can hold its See “Asean,” A2
PESO EXCHANGE RATES n US 57.2970 n JAPAN 0.3879 n UK 72.9334 n HK 7.3763 n CHINA 7.8253 n SINGAPORE 42.3732 n AUSTRALIA 34.3037 n EU 62.5397 n KOREA 0.0390 n SAUDI ARABIA 15.2613 Source: BSP (April 8, 2025)