Senator Win Gatchalian is urging a thorough examination of the potential consequences of the United States’ imposition of a 17% reciprocal tariff on goods from the Philippines, highlighting that the U.S. remains the country’s largest export market.
“Despite the seemingly advantageous position of the Philippines compared to its ASEAN counterparts following the imposition by the United States of higher reciprocal tariffs,” Gatchalian said.
“We must identify the potential impact particularly on overseas Filipino workers and the business process outsourcing industry, as both are vulnerable to a global economic slowdown,” he added.
In filing Senate Resolution 1343, Gatchalian emphasized the importance of assessing how the Philippines could be affected by possible supply chain disruptions and the potential exodus of manufacturers seeking to avoid tariffs.
Preliminary data from the Philippine Statistics Authority indicates that the Philippines exported a total of $12.12 billion worth of goods to the U.S. in 2024, accounting for 16.6% of the country’s total exports last year. This figure represents a 4.7% increase from the $11.55 billion worth of exports to the U.S. in 2023.
Gatchalian’s resolution aims to facilitate a comprehensive analysis of the economic implications of the tariff hike and to ensure that appropriate measures are taken to protect the interests of Filipino workers and businesses. (JCO/PIA-NCR) By Jerome Carlo Paunan