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DOLLAR HITS 4-MONTH LOW AMID TRADE WAR FEARS
Canada Prime Minister Justin Trudeau
THE US dollar hit a four-month low Wednesday morning following a warning from US President Donald Trump that his decision to impose new 25 percent tariffs on imports from Mexico and Canada and an additional 10 percent levy on goods from China will cause “a little disturbance.” “Tariffs are about making America rich
again, and making America great again. It’s happening, and it will happen rather quickly,” Trump said in his first major policy speech since he took office. “We have been ripped off for decades by nearly every country on earth,” Trump added. All three countries – the top three trading
partners of the US – retaliated with levies of their own, sparking worries about a potentially devastating trade war and a slowdown in the global economy. The dollar index, which measures the greenback against a basket of major currencies, fell to 105.35 yesterday morning, Next page
US President Donald Trump
Trump’s tariff hike won’t hurt, may even benefit PH By Darwin G. Amojelar
VOL. XXXIX • NO. 23 • 3 SECTIONS 16 PAGES • P20 • THURSDAY, MARCH 6, 2025
‘Revamp board of PhilHealth’
FINANCE Secretary Ralph Recto expects the Philippines to be among those “least affected” by US President Donald Trump’s higher tariff policy because “our economy is predominantly consumer driven.” Recto told the Manila Standard in a Viber message that the US tariff hikes “will not be good for global trade and may affect global growth.” The government targets a 6 percent to 8 percent gross domestic product (GDP) growth this year. In 2024, the economy grew 5.6 percent, lower than the government’s target of 6 percent to 6.5 percent. According to Recto, there are opportunities for investment and great-
er trade with Western countries. “CREATE MORE will help attract investments in both domestic and export. We’re watching out for opportunities,” he added. Enacted on November 8, 2024, the CREATE MORE Act transforms the Philippines into an attractive business destination by making the tax incentives regime more globally competitive, investment-friendly, predictable, and accountable It will enhance the ease of doing business in the country; clarify value-added tax (VAT) rules; provide more attractive tax incentives; strengthen governance and accountability; and make clear transitory rules for pre-CREATE registered Next page
SC justice flags budget utilization
I
T MAY be time to overhaul the board of PhilHealth amid concerns over the utilization of its budget, Supreme Court Associate Justice Antonio Kho Jr. said. Kho floated the idea during Tuesday’s oral arguments on petitions seeking to block the transfer of PhilHealth’s excess funds to the national treasury. “Probably, it’s time to overhaul PhilHealth and change the board for not complying with what the law requires,” he said. On Wednesday, newly-installed PhilHealth president and CEO Edwin Mercado, who assumed office last month, said the present leadership is “dedicated” to improving the services of PhilHealth. “Our performance is being assessed regularly,” Mercado said in a television interview.
ASHES TO GO. Pedestrians and motorists at the intersection of EDSA and Kamuning street in Quezon City receive ashes on their foreheads from Pastor Mervin of the United Methodist Church on Ash Wednesday. Manny Palmero
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February inflation falls to 2.1% amid easing in rice prices By Darwin G. Amojelar HEADLINE inflation sharply fell to 2.1 percent in February 2025, down from 2.9 percent in the previous month and 3.4 percent in February
last year, driven by the easing of rice prices among other heavily weighted items, the Philippine Statistics Authority (PSA) reported yesterday. This is the lowest recorded since September 2024 at 1.9 percent.
PSA attributed the lower inflation in February to the slowdown in both food (2.6 percent from 4 percent) and non-food inflation (1.7 percent from 2.2 percent). The year-to-date inflation average is 2.5 percent, well within the govern-
commander of Eastern Mindanao Command, told AFP the two crewmen had been found inside the wreckage. “The bodies were found inside the aircraft. There was an attempt to Next page
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Two PAF pilots found dead in crash wreckage By Rex Espiritu
region of the country’s south. The FA-50 fighter jet had gone missPHILIPPINE rescuers on Wednesday ing a day earlier while on a mission to found the wreckage of a fighter jet and provide air support for troops fighting the bodies of two crewmen sent to com- guerrillas in northern Mindanao. bat communist rebels in a mountainous Lieutenant General Luis Rex Bergante,
By Ram Superable SENATE President Francis Escudero yesterday said that no amount of signatures would amend the law or persuade him to violate it by initiating impeachment proceedings during a recess by the two-chamber Congress. “No amount of signatures will amend the law nor convince me to violate it by convening the impeachment court during recess and without complying with the requisite conditions precedent,” he said. The Senate chief added that the law is firm and should not be influenced by individual preferences, biases, or political timelines aimed at expediting the impeachment of Vice President Sara Duterte. The House of Representatives filed an impeachment complaint against Duterte on Feb. 5, 2025, citing allegations of budget misuse, illicit wealth accumulation, and threats against President Ferdinand Marcos Jr. and other officials. Duterte denied the accusations and challenged the impeachment before the Supreme Court, arguing that the House committed “grave abuse of discretion” by violating a constitutional ban on multiple impeachments
File photo shows a South Koreanmade FA-50 multirole light fighter aircraft for the Philippine Air Force parked on the tarmac shortly after arriving on November 28, 2015 at Clark Air Base in Angeles City, Pampanga. Inset shows the two pilots, Maj. Jude Salang-oy, at left, and 1Lt. April John Dadulla, right, who died in the crash. AFP/ PNA.
By Charles Dantes
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FALLEN AIRMEN.
Palace will spare no one in bridge fiasco MALACAÑANG vowed to hold accountable anyone found responsible for the collapse of a bridge in Isabela province, whether from past administrations or present officials, as the government launches a deeper investigation into the incident. The bridge, which was reportedly completed during the administration of former President Rodrigo Duterte, will be further examined to determine potential liabilities, Presidential Communications Office (PCO) Undersecretary Claire Castro said. “As they say, it’s not just the
ment’s 2 to 4 percent target. In terms of consumer goods, rice prices declined for the second straight month amid the continuous effects of declining global prices, a reduction in
Escudero firm, will not bend impeach law