‘Roadblocks’ stall PHL tariff talks with US By Samuel P. Medenilla
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HAMAS INTENSIFIES SEARCH FOR HOSTAGE REMAINS AS EGYPT OFFERS SUPPORT AMID CEASEFIRE TENSIONS
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UALA LUMPUR—Philippine tariff negotiations with the United States were stalled by several “roadblock” issues during the 47th Association of Southeast Asian Nations (ASEAN) covering nontariff barriers and some of the country’s top exports in agriculture and electronics, according to Malacañang. Citing her discussion with Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Frederick D. Go, Palace Press Officer Claire Castro said officials have yet to iron out the de-
tails of their talks with the US on non-tariff measures. “He told me that negotiations are ongoing [for the tariff] and that there are issues, which we can say that are comprehensive, regarding the trade rules and regulations and on non-tariff measures like services and engaging investments,” Castro said in Filipino in a press briefing in Malaysia on Monday. Go had noted that the country is carefully negotiating the terms on products, which are crucial for the country’s major agricultural exports like coconuts, pineapple, sugar and cocoa. He said the government is making sure the talks will have no neg-
ative impact on electronic products, which are the country’s top exports as of last year generating a total earning of US$2.79 billion, according to the Philippine Statistics Authority. “Those are some of the goods that the Philippines cannot easily negotiate lightly,” Castro said. Castro gave assurances the country’s trade negotiators will make sure to minimize the possible negative effects of the new tariff policy from the US. In April, US President Donald Trump initiated his so-called “Liberation Day,” imposing a minimum 10-percent tariff on almost all imports. The incident prompted many of
the US trade partners, including the Philippines, to negotiate with the US for the lowering of the tariff rates. The Philippines was initially slapped with a 20-percent tariff under the said new tariff regime. It was reduced to 19 percent after the country agreed to some concessions last July. The government economic managers said they will continue to negotiate to further bring down the said tariff rate. During the ongoing 47th ASEAN Summit, the White House has announced tariff-related deals with Malaysia and Cambodia as well as framework trade agreements with Vietnam and Thailand.
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‘GOOD GOVERNANCE CAN BLUNT DISASTER IMPACT’ www.businessmirror.com.ph
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Tuesday, October 28, 2025 Vol. 21 No. 20
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By Reine Juvierre S. Alberto @reine_alberto
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S the Philippines may not be able to escape its fate as the world’s most disasterprone nation, good governance can turn the tide to resilience and growth, according to economists. In a commentary by New Yorkbased think tank GlobalSource Partners, economists Diwa Guinigundo and Wilhelmina Mañalac said the country’s vulnerability to natural hazards has long been compounded by weak institutions and corruption in public works. Citing figures from the National Disaster Risk Reduction and Management Council, the typhoons that battered the country in September See “Governance,” A2
SHADES OF CHANGE Colorful as it looks, this collage captures the climate crisis behind the hues. The umbrellas that once shaded Makati employees during the scorching 2023–2024 El Niño now
SOLIDUM: POORLY BUILT HOMES BEHIND MANY DISASTER DEATHS By John Eiron R. Francisco
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ACOLOD CITY—Many of the casualties and damage from disasters in the Philippines stem from weak houses and poorly built structures that fail to withstand strong winds or earthquakes, the country’s science chief said. At the Handa Pillipinas-Visayas leg in this city, Department of Science and Technology (DOST) Renato U. Solidum Jr. said Monday that about 40 percent of houses nationwide are non-engineered and are often built without proper building permits. These collapses, Solidum told the BusinessMirror, are usually due to three main factors: poor design, substandard materials, and inadequate workmanship. He cited the recent 6.9-mag-
nitude earthquake offshore Cebu, noting that some buildings collapsed at the lower levels because they were top-heavy, while others used substandard materials. He added that most affected structures were private homes rather than government buildings. “We have to really look at how people can be assisted in really following earthquake resilient design and making sure that these would conform to the code,” he said, noting that “the real challenge lies in enforcing the building code and proper land-use policies at the local level.” “My idea of resilience is to build stronger. Let us retrofit houses that are weak,” Solidum emphasized. See “Solidum,” A2
stand against the Habagat rains that followed, symbolizing resilience amid extremes. By August 2025, losses in the farm sector had topped P3 billion. And in Batangas, a brightly painted house stood out against the gray ash of Taal Volcano’s 2020 eruption—a reminder that while color brings comfort, it can’t hide nature’s harsh reality. NONIE REYES
ASEAN-Korea FTA to roll back protectionism By Samuel P. Medenilla
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UALA LUMPUR—President Ferdinand Marcos Jr. said the timely upgrade of the ASEAN-Korea Free Trade Area (AKFTA) will help the regional bloc and South Korea repel the effects of the “growing protectionist tendencies in the global economy.” He also recognized the role of South Korea in enhancing the competitiveness of micro, small, and medium enterprises (MSME) and start-ups. “On the economic front, the Philippines welcomes the launch of the negotiations to upgrade the ASEAN-Korea Free Trade Area, a timely step in strengthening ASEAN-Korea economic ties and ensuring that our partnership remains relevant in today’s rapidly changing global economy,” the chief executive said
in his intervention at the second day of the 47th ASEAN Summit in Malaysia on Monday morning. A strengthened AKFTA, he said, will help keep the economies and involved parties “to remain open” as more countries focus on their domestic trade. After taking effect in 2019, the AKFTA helped boost trade between ASEAN and South Korea, reaching US$156.5 billion in 2019 and helping generate 700 million people. It provided ASEAN exports greater market access to Korea starting from 2006, and helped them get free market access in 2010 as Korea eliminates tariffs for goods coming the regional bloc. The Philippines also signed its own FTA with South Korea Free Trade Agreement (FTA) in 2024, which is also expected to spur trade between the two countries. Marcos also cited South Korea’s
PRESIDENT Ferdinand Marcos Jr.
support for MSMEs and start-up development. “In particular, we commend the initiatives of the ASEAN-Korea Centre, such as the annual ASEANKorea Startup Week, which serves as a valuable platform for promising ASEAN startups to engage in networking and capacity-building activities with their Korean coun-
terparts,” he said. The President also cited South Korea’s roles for promoting cybersecurity; disaster mitigation through upskilling; cultural exchanges; environmental sustainability; and maritime priorities of ASEAN, which are “anchored on a rules-based international order.” He said he is looking forward to co-chairing with South Korea and the United States the ASEAN Regional Forum (ARF) Workshop on Best Practices for Port State Measures to Combat Illegal, Unreported, and Unregulated (IUU) Fishing. “I am confident that ASEAN and the ROK [Republic of Korea] will continue to work together to advance peace, prosperity, and security in our region because we are guided by a common goal of uplifting the lives of our peoples,” Marcos said.
PESO EXCHANGE RATES n US 58.6330 n JAPAN 0.3832 n UK 78.1461 n HK 7.5465 n CHINA 8.2332 n SINGAPORE 45.1927 n AUSTRALIA 38.3284 n EU 68.2254 n KOREA 0.0407 n SAUDI ARABIA 15.6342 Source: BSP (October 27, 2025)