United Asean response to issues sought By Samuel P. Medenilla
P
WORLD » A6
ISRAELI STRIKES KILL 52 IN GAZA, INCLUDING 36 IN SCHOOL-TURNED SHELTER, MEDICS SAY
ROTARY CLUB OF MANILA JOURNALISM AWARDS
2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion
@sam_medenilla
RESIDENT Ferdinand Marcos Jr. has called for a united Association of Southeast Asian Nations (Asean) response to geopolitical tensions, unexpected trade barriers, and the unprecedented impact of climate change, which are threatening sustainable economic growth in the regional bloc. By working together, strengthening our institutions, and building the resilience and capacities of our people, we can better navigate
this increasingly uncertain future and turn challenges into opportunities for shared growth and stability, the chief executive said in his intervention during the 46th ASEAN Summit Plenary in Kuala Lumpur, Malaysia. He said ASEAN has already shown how cooperation among its members has resulted to concrete measures to address transnational crimes with the completion of the ASEAN Declaration to Prevent and Combat Trafficking in Persons Caused by the Abuse of Technology as well as its united position not to impose retaliatory mea-
sures against the reciprocal tariffs from the United States (US). Also on Monday at the summit, President Marcos backed the mainstreaming of Artificial Intelligence (AI) and reducing trade barriers within the Asean to boost the regional bloc’s economic competitiveness and become a “global trade and investment hub.” The chief executive made the remarks during the meeting between Asean Leaders’ Interface with Representatives of the Asean Business Advisory Council (BAC) in Kuala Lumpur, Malaysia. In April, US President Donald
Trump imposed additional reciprocal tariffs on imports, which aims to correct the alleged “unfair trading practices” by some countries. Some countries like Canada and China have opted to retaliate against such measure by imposing additional tariffs on US goods. Asean opted to continue dialogues with the US to address the matter. “This measured and unified approach upholds Asean’s commitment to dialogue, diplomacy, and a rules-based multilateral trading system,” Marcos said. See “United,” A5
BusinessMirror A broader look at today’s business
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR
(2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
CONCERN RISING OVER U.S. TRADE STANCE, PESO www.businessmirror.com.ph
E
n
Tuesday, May 27, 2025 Vol. 20 No. 226
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Cai U. Ordinario
Edsa rehab starts Jun 13; DPWH, DOTr in tandem
@caiordinario
XPORTERS and experts regard Washington’s new trade policy and the strong peso as a double whammy that could erode the competitiveness of Philippine goods in the global market. At the sidelines of a forum cohosted by the the Philippine Institute for Development Studies and the Bangko Sentral ng Pilipinas (BSP) on Monday, Philexport President Sergio R. Ortiz-Luis Jr. told BusinessMirror that Trump’s tariffs and a strong currency are placing exporters at a disadvantage. While there is a 90-day pause of the full implementation of higher tariffs on US imports, a 10-percent tariff has been imposed on most of these commodities. This is happening at a time when the
By Lorenz S. Marasigan
T
HE long-anticipated overhaul of Edsa is set to begin on June 13, with the Department of Public Works and Highways (DPWH) and the Department of Transportation (DOTr) promising to implement measures to minimize disruption and maintain traffic flow along Metro Manila’s busiest thoroughfare. Public Works Secretary Manuel Bonoan said the first phase of the Edsa Rebuild will cover both the southbound and northbound sections from Pasay to Shaw Boulevard. This segment is expected to be completed by the end of the year, after which works will proceed to the remaining sections.
peso is appreciating to the dollar and trading at the P55 to the dollar level. “It’s really a double whammy, that’s why we’re really trying to see, we’re now analyzing why this is so,” Ortiz-Luis told this newspaper, speaking partly in Filipino. “Unfortunately, the situation is very erratic. It changes every week, depending on how Trump wakes up.” Ortiz-Luis said exporters, economists, and other experts from institutions like PIDS and the See “Concern,” A2
DA TO PITCH RETAINING 15% TARIFF FOR IMPORTED RICE By Ada Pelonia
M
@adapelonia
ALOLOS, Bulacan— The Department of Agriculture (DA) will recommend the retention of the 15-percent tariff rate for imported rice to keep prices stable, especially during the lean months, which will start in July. Agriculture Secretary Francisco Tiu Laurel Jr. said retaining the duties levied on rice imports in the upcoming review of Executive Order (EO) 62 coincides with the end of harvest in exporting countries, which recently saw a rise in prices of the staple grain. “I will not increase it for now because our harvest season and that of exporting countries have already ended,” Laurel told reporters on the sidelines of an open discussion with farmers here. Vietnamese rice prices rebounded to three-month highs in April, driven by the winterspring harvest approaching its end, according to the Food and Agriculture Organization of the United Nations (FAO). Vietnam
is the Philippines’s top supplier of imported rice. Vietnamese rice quotations for the 5 percent broken rice variety stood at $396 per metric ton (MT) last month, based on FAO data. This figure was the highest level since the $416 per MT recorded in January. “If we do raise the tariffs, it could be during the harvest season of exporting countries, so it won’t impact us that much,” Laurel said. For his part, DA Assistant Secretary Arnel de Mesa said the 15 percent rice tariffs would tame prices of the staple grain amid the lean months or when rice production dwindles to its lowest. “If you increase the tariffs [during lean season] when there’s limited supply and harvest, retail rice prices will shoot up. That’s what we want to prevent,” De Mesa said. Laurel earlier floated the recommendation to gradually increase rice tariffs, since reinstating it immediately would jolt the market. However, the percentage-point increase is yet See “DA,” A2
“THE priority sections that we will be undertaking are from Pasay to Shaw Boulevard. We hope that we can complete that segment towards the end of the year, and then the rest of the sections will follow.”–DPWH Sec. Manuel Bonoan
TRANSPORT TACTICS IN MOTION Land Transportation Office Chief Atty. Vigor D. Mendoza II unveils the Mobile Motor Vehicle Inspection Facility (MVIF) at the LTO Central Office in Quezon City on Monday, May 26, 2025, aimed at bolstering road safety by assessing the roadworthiness of public utility vehicles—taking just 10–12 minutes for light-duty and around 30 minutes for heavy-duty ones. Meanwhile, MMDA personnel in Pasig City track the traffic situation as the No Contact Apprehension Program (NCAP) resumes, logging 582 violations on its first day. At a separate press briefing, DOTr Secretary Vince Dizon, DPWH Secretary Manuel Bonoan, and MMDA Chairman Atty. Don Artes present five key traffic-easing measures for the EDSA Rebuild, including more MRT-3 trains, clearing alternate routes, and an odd-even traffic scheme. NONIE REYES & NONOY LACZA
“The priority sections that we will be undertaking are from Pasay to Shaw Boulevard. We hope that we can complete that segment towards the end of the year, and then the rest of the sections will follow,” Bonoan said. To ease congestion during the construction, the government has lined up a series of interventions, including a temporary toll-free policy in select sections of San Miguel Corp.’s Skyway Stage 3. Transportation Secretary Vince Dizon said it is coordinating with the Toll Regulatory Board to explore options for compensating SMC, which may include “extending its concession agreement.” “It will be free for motorists, but it doesn’t mean that we will not be compensating the company. There are different ways to provide reprieve for San Miguel,” Dizon said. In addition, authorities will deploy 100 more bus units for the Edsa Busway, increase train trips on the Metro Rail Transit (MRT) Line 3, implement an odd-even traffic scheme along Edsa, and remove obstructions on alternate routes. The dedicated Edsa Busway will remain operational during the entire reconstruction period.
‘Pedestrians first’
AMID these developments, transport advocacy See “Edsa,” A2
PESO EXCHANGE RATES n US 55.4930 n JAPAN 0.3896 n UK 75.0820 n HK 7.0850 n CHINA 7.7291 n SINGAPORE 43.1785 n AUSTRALIA 36.0205 n EU 63.0844 n KOREA 0.0407 n SAUDI ARABIA 14.7962 Source: BSP (May 26, 2025)