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NewsTranscript
00:00China's new tariff is followed by a large reciprocal tariff imposed by US President Donald Trump.
00:07Despite the protests in America and other parts of the world, Trump condemned the tariffs he imposed.
00:14Watch Van Myrina.
00:17This is what's up. This is what's right.
00:20In various parts of America, including Canada, and several parts of Europe,
00:28the US President Donald Trump's policies are being followed.
00:33One of the things they are doing is imposing a reciprocal tariff on many countries.
00:40Just last week, the stock market lost $5 trillion to S&P 500 companies
00:46due to the alarming effects of the increase in tariffs.
00:50The price of oil and commodities also fell.
00:53Trump's announcement became a medium-sized stock sell-off
00:57or the sudden sale of stocks resulting in the sudden drop in its price.
01:03Some tech companies, retailers, banks, and manufacturers in China are particularly affected
01:09because of the high tariff imposed.
01:12The reciprocal tariff in China is 34%.
01:15In addition, 20% of the tariff was first imposed by the Trump administration.
01:19That's why China will replace the 34% increase in tariffs in America.
01:24French President Emmanuel Macron called on companies to freeze their investments in America.
01:31Several US investment banks have raised their risk forecast
01:35for the recession not only in America but around the world.
01:39But Trump is against it.
01:41Is there pain in the market? At some point, you're unwilling to tolerate this idea of a Trumphood.
01:47Is there a threshold?
01:48I think your question is so stupid.
01:50I don't want anything to go down, but sometimes you have to take medicine to fix something.
01:57Earlier, Trump's additional tariffs in Asia continued to have an effect,
02:01including stocks in Japan and Hong Kong, and even in the Philippines,
02:05where the Philippine Stock Exchange plunged in the lowest closing in two and a half years.
02:11The government admitted that the reciprocal tariff imposed by America has an effect in other countries.
02:19Because of the high tariffs, the economy of the whole world will be affected.
02:28So we are all affected.
02:31But because the 17% tariff in the Philippines is the second lowest in Southeast Asia,
02:37this is an opportunity for foreign companies to manufacture in the Philippines instead of others.
02:44This is also an opportunity for the export of the Philippines, which is being exported to other countries.
02:49For example, it is an advantage for the Philippines,
02:52which has doubled the tariff imposed by America to Thailand, which is also exporting.
02:58DPI Secretary Andrade Mangos also cited Cambodia as an example, which is also exporting.
03:04If you look at the tariffs imposed by the US and neighboring countries,
03:09they are also our competitors when it comes to exports.
03:12Like Vietnam and Thailand.
03:14They are higher. Look at this. Cambodia is 49%.
03:18We are against DRIVE, Mangos.
03:20If you look at the clearer picture, we are still at an advantage.
03:25According to Malacanang, some laws, such as the CREATE MORE Act,
03:29which gives incentives to the residents who will open facilities and deposit funds here in the country,
03:36in addition to this, it will announce more detailed news,
03:40the economic team for addressing the tariffs imposed by America.
03:44For GMA Integrated News, I am Ivan Mejrina, your Saksi.
03:50Makapuso, be the first to watch.
03:52Subscribe to GMA Integrated News on YouTube for more news.