In a report, Nomura Global Markets Research said the Philippines is considered the most vulnerable among ASEAN nations due to the country’s close ties with the US and its reliance on the American market.
“Similar to Trump’s first term, the Philippines will be among the most vulnerable through various channels,” Nomura said.
During his previous administration, Trump adopted a protectionist stance by imposing tariffs and renegotiating trade agreements to favor American interests. If re-elected, Trump is expected to revive similar policies.
“The direct exposure comes from the Philippines’ goods trade surplus with the US which has risen in the last few years and exports are likely to be hurt by the 10 percent tariffs proposed by Trump,” Nomura said.
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Esta historia es de la edición September 05, 2024 de The Philippine Star.
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