The rationale the economic advisor gave is based on the fact that the PH maybe able to offset the 17% tariff since it's one of the smallest rate imposed (Singapore 10%) compared to the rest of its ASEAN neighbors. The relative small tariff may entice FDI looking to move away productions from countries that are hit with massive tariff hikes.@BlackWindMnt and you know what bro? this economic adviser say it's good for us, what the FXXK did this guy eat for breakfast.
Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go on Thursday brushed off the impact of US President Donald Trump's imposition of 17% tariff on Philippine goods entering America, seeing it as a boon rather than a bane for the country's economic future.
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1 hour ago — Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go on Thursday brushed off the impact of US ...
Having said that, the advisor is certainly being disengenious or just obscuring the one simple fact that even if that optimistic scenario happens what made him think that the U.S. will simply levy the same tariff rate against the PH once the disparity occurs? And wouldn't businesses factoring that possibility into their thinking and planning? Plus, how is the PHILIPPINES going to handle the increase in energy demand and use when the country is laggard in this area, not to mention it has one of the highest electricity costs in Asia making the potential FDI less than likely