The Philippines has issued a sharp rebuke to former US President Donald Trump after he suggested imposing aggressive tariffs on imports if re-elected. Government officials warned that such measures could destabilise trade relations and harm both economies.
Philippines' Strong Opposition
Manila has made its stance clear, arguing that Trump's proposed 60% tariff on foreign goods would disproportionately affect developing nations like the Philippines. Trade Secretary Ramon Lopez stated, "Unilateral tariff hikes disrupt global supply chains and penalise key trading partners."
Potential Economic Fallout
Analysts predict that such tariffs could:
- Increase costs for American consumers
- Damage Philippine export industries
- Strain diplomatic relations
- Trigger retaliatory measures
The Philippines currently exports over $12 billion worth of goods to the US annually, including electronics, agricultural products, and manufactured goods.
White House Responds
While the current Biden administration has distanced itself from Trump's proposal, Philippine officials remain concerned about potential policy shifts after the 2024 election. A White House spokesperson reiterated America's commitment to "fair and balanced trade" with Southeast Asian partners.
Economists warn that escalating trade barriers could reverse post-pandemic recovery efforts in both countries, particularly affecting small and medium enterprises that rely on international commerce.
