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Filtering by entity: President of the Republic of the Philippines | Clear Filter
Summary:The White House informs the President of the Philippines that, effective August 1, 2025, the United States will impose a 20% tariff on all Philippine products due to persistent trade deficits and non-reciprocal trade policies, further stating that if the Philippines raises its tariffs, the US will add an additional 20% to its own charges, while also inviting the Philippines to increase its manufacturing within the US.
Sentiment:Directive
Key Claims:
- The United States and the Philippines have a strong, committed trading relationship.
- The United States has a significant, long-term, and persistent Trade Deficit with the Philippines.
- The trade deficit is caused by the Philippines' Tariff and Non-Tariff Policies and Trade Barriers.
- The trade relationship between the US and the Philippines is 'far from Reciprocal'.
- Starting August 1, 2025, the US will charge a 20% tariff on all Philippine products imported into the United States.
- Goods transshipped to evade higher tariffs will be subject to the higher tariff.
- The 20% tariff is presented as 'far less than what is needed to eliminate the Trade Deficit disparity'.
- If the Philippines raises its tariffs, the US will add an additional 20% onto its existing charge.
- The US invites the Philippines to participate in the 'extraordinary Economy of the United States' and build or manufacture products within the US.
- The US will expedite approvals for companies deciding to build or manufacture products within the United States.
- The trade deficits are 'unsustainable' and pose a 'major threat to our Economy and, indeed, our National Security!'
Potential Market Impact (S&P 500):7/10
Potential Geopolitical Risk:1/10
Potential Global Cross-Asset Impact:7/10
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