00:00It is still felt today in Asia, including the Philippines,
00:04the effect of the increase in tariffs imposed by America on the products of other countries,
00:10particularly in terms of stocks.
00:12The government admitted that this also has an effect on the economy of the Philippines.
00:17But there are some issues in this gap.
00:20Ivan Mayrina was able to point it out.
00:22In Washington D.C., the center of the American government.
00:31Or in New York, the center of those businesses.
00:37Even in Los Angeles.
00:41And other places.
00:43More than 1,000 gatherings were held in America this weekend
00:47against US President Donald Trump and his billionaire ally Elon Musk.
00:51Their next steps are to speed up the change of government and the expansion of the presidential authority.
00:59As Trump's ally, the increase in tariffs on the products of other countries that are imported to America
01:05was protested against in other countries such as Canada, Germany, and France.
01:13This effect is not only in America, but also in the economy and the size of the world.
01:19Just last week, the stock market value of S&P 500 companies lost $5 trillion
01:25because of the alarming effect of the increase in tariffs imposed by America.
01:29The price of oil and commodities also fell.
01:32And earlier, this continued to have an effect in Asia, including stocks in Japan and Hong Kong.
01:38And even in the Philippines, where the lowest closing in two and a half years,
01:43the Philippine Stock Exchange.
01:45The government admitted that the reciprocal tariff imposed by America on other countries has an effect.
01:50No matter how we are affected by that, because the whole world imposed high tariffs,
01:57the economy of the whole world will weaken.
02:01So we are all affected by that.
02:04But because 17% tariff imposed in the Philippines is the second lowest in Asia,
02:10this is an opportunity for foreign companies to manufacture in the Philippines instead of others.
02:29This is also an opportunity for Philippine exporters to do the same as those exported to other countries.
02:34For example, the advantage for the Philippines is that America will impose a double tariff on those from Thailand who are also exporting.
02:53According to Malacanang, some laws such as the Create More Act,
02:57which gives incentives to the governments to open facilities and raise funds here in the country.
03:03In addition, it will announce more detailed economic path for addressing the tariffs of America.
03:10For GMA Rating News, Ivan Mayrina, Nakatutok, 24 Hours.
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