Palace addresses concerns over new U.S. tariffs on Filipino products

PTVPhilippines

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00:00Former investment banker and economist Joey Salceda,

00:03House Chair of the Powerful Ways and Means Committee,

00:06felt pleasant surprise, not sadness,

00:08on a rather relatively low tariff rate

00:11slapped by the Trump administration

00:13on the country's exports to the United States.

00:15Such amount, he is pretty confident,

00:17will have a weak impact on the country's economy,

00:20given what it receives in military aid

00:22and assistance from the United States

00:24as a favored ally in the region.

00:26Armelis Moras has the full story.

00:31Malacanang has allayed the fears of some of her countrymen

00:34following the new tariffs imposed by the United States

00:37on products from around 100 of its trading partners,

00:40including the Philippines.

00:41According to Palace Press Officer Juse Claire Castro,

00:44this is not believed to significantly impact the country,

00:47especially since with other countries,

00:49the percentage imposed on the Philippines

00:51is significantly lower.

00:53The Department of Trade and Industry

00:54is also upbeat on this latest development,

00:56believing it will still bring strategic opportunities

00:59for the country.

01:30Even House Ways and Means Committee Chair Joey Salceda

01:35was also an economist,

01:36expressed optimism about this development.

01:39He said, sovereign countries can do as they please

01:41with their trade policies,

01:43and he's frankly surprised the tariff rates imposed on us

01:45turned out lower than expected.

01:48Melales Moras from the National TV Network

01:50for a new and better Philippines.

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