Ekonomiya ng Pilipinas, mananatiling matatag sa kabila ng pagbabago sa global trade ayon sa DOF
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NewsTranscript
00:00The Finance Department assured that the economy of the Philippines remains stable despite the changes in global trade,
00:07especially in the face of the new implementation of a higher tariff by the United States on the products it imports.
00:15Based on the announcement of US President Donald Trump,
00:18the tariff on the products imported from the Philippines is set at 17%.
00:24However, according to Secretary Ralph Recto, the Philippines is not dependent on exports but on domestic demand,
00:33so it will not be easily affected by trade wars.
00:37He also amended the existing Create More Act to encourage more Filipinos to invest and make the Philippines a hub for global industries
00:46such as electronics, fabric, food, and vehicles.
00:50There is also an opportunity to expand the export of coconut-based products in the US despite trade challenges.