PBBM forms advisory body for semiconductor, electronics industry; PH can be more aggressive in agri exports to U.S. at 17% tariff: DA

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Transcript

00:00Recognizing the crucial role of the semiconductor and electronics industry in the country's economic growth,

00:07President Ferdinand R. Marcos Jr. has established an advisory council aimed at enhancing the sector's global competitiveness.

00:15These and other stories in tonight's Business Wrap from the Philippine News Agency.

00:19A look at business headlines. President Ferdinand R. Marcos Jr. has formed an advisory council in order to provide strategic guidance and insights

00:34in enhancing and strengthening the global competitiveness of the Philippines' semiconductor and electronics industry.

00:41The SEI Advisory Council was created under Administrative Order 31 signed by Marcos on March 28.

00:49According to AO31, the council is directed to ensure that the PSEI roadmap aligns with the country's national economic development objectives.

00:59This will serve as the President's primary advisor on matters concerning the sector's growth, promotion, and competitiveness.

01:06Frederick Goh, Special Assistant to the President for Investment and Economic Affairs, will chair the SEI Advisory Council,

01:14while Trade Secretary Maria Cristina Aldegarroque will be the Vice Chairperson.

01:19Meanwhile, the Philippines has a chance to boost its agricultural exports to the United States,

01:25this after U.S. President Donald Trump mandated a 17 percent tariff on the country's goods.

01:32Agriculture Secretary Francisco Teodoro Jr. says the Philippines has the lowest tariff rates among competitors

01:38and it is favorable to take advantage of the imposed tariffs.

01:42He stressed that a 17 percent tariff can help the country grow exports in the competitive U.S. market.

01:48Products like coconut, seaweed, and fish are among those with growth potential.

01:53Competitor countries such as Vietnam face a 46 percent tariff, 36 percent for Thailand, 32 percent for Indonesia,

02:02while other ASEAN countries like Cambodia are charged 49 percent, and Malaysia 24 percent.

02:10That's a wrap for this week's business headlines.

02:13Happy weekend, everyone!

02:14From the Philippine News Agency, I am Bench Bondoc for Balitang Pambansa.

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