Today’s business headlines are dominated by the implementation of new trade policies from the United States and the swift response from the Philippine government. The top story focuses on the effective date of President Donald Trump’s 17% tariff on Philippine goods entering the US. This significant development has prompted immediate action from Manila.
In a proactive move, Trade Secretary Ma. Cristina Roque announced that the Philippines is open to reducing tariffs on goods imported from the US. This strategic decision aims to initiate crucial negotiations with the US administration, with the hope of mitigating the potential negative impact on Filipino exporters and businesses. The economic team is scheduled to convene shortly to discuss the specifics of this approach, underscoring the government’s commitment to safeguarding the nation’s trade interests.
Despite these external challenges, the domestic economic front presents a more positive picture. The National Economic and Development Authority (NEDA) has reported encouraging news regarding inflation. According to NEDA Chief Arsenio Balisacan, government measures to curb inflationary pressures are proving successful, leading to a continued decline in inflation rates. This provides a much-needed boost to consumer confidence and overall economic stability.
Adding a vibrant note to the day, the Department of Trade and Industry (DTI) has officially launched the 2025 Bagong Pilipinas National Food Fair at SM Megamall. This five-day event promises to be a feast for the senses and a vital platform for Filipino food producers to showcase their talent and connect with a wider market.
In other significant business news today:
- President Marcos Jr. and his Cabinet are actively formulating a comprehensive strategy to address the implications of the US tariffs, signaling a unified government approach.
- The Premiumlands Group is set to begin its tender offer for Asiabest Group International Inc. on April 14th, marking a notable activity in the property sector.
- Philippine Airlines (PAL) announced the launch of direct flights to Da Nang, Vietnam, starting this July, enhancing regional connectivity.
- The Securities and Exchange Commission (SEC) has fully digitalized company registration, streamlining the process for new businesses.
- Farmers in Bulacan are facing difficulties due to a sharp drop in palay prices, highlighting challenges in the agricultural sector.
- The CEO of AC Energy shared insights on the complexities of the green energy transition in the Philippines.
The coming weeks will be critical as the Philippines navigates the evolving trade landscape with the US while building on the positive momentum in controlling inflation and supporting local industries. We will continue to bring you the latest updates on these and other important business developments.
Business News Philippines