Thirteen of the 14 ASEAN+3 member economies are subject to some of the highest effective tariff rates under the new measures, with a trade-weighted average of 26 percent excluding China.
A former Philippine Finance Secretary has warned that, while the direct impact of new US tariffs on Philippine exports may be modest, the country must respond strategically to mitigate risks and seize potential gains from shifting global trade patterns.
BPI estimates suggest a 0.5-percent reduction in GDP growth could result from diminished export demand and disruptions to global supply chains. This would lower the 2025 growth forecast from 6.3 percent to 5.8 percent.