Amid the turmoil brought about by the Trump tariffs, Eunina Mangio, president of the Philippine Chamber of Commerce and Industry (PCCI), has called for calm and wait for the government and neighboring countries to address the situation.
“It is actually too early to know exactly the impact of the 17 percent tariff. Let us wait for the action of our government and our neighbors, then just do what we need to do to address the impact,” said Mangio.
The lady president of PCCI noted that since the effect of the tariff is global, everything will follow.
Mangio said that the 17 percent tariff will initially hurt most industries specially exporters but since the tariff is global, whatever is the impact it caused to Filipino exporters, its will be cautioned by increasing the prices. “Even if we increase the prices, we will still be competitive because the tariff of our neighbors is much higher the ours,” she said.
Like most countries, the Philippines was also hit with the Trump tariffs, but at lower rate. Goods coming from the Philippines will be taxed 17 percent, still high, but less than half of the rates on products from Thailand and almost a third less than the tariffs on Vietnam.
