Unang Balita is the news segment of GMA Network's daily morning program, Unang Hirit. It's anchored by Arnold Clavio, Susan Enriquez, Ivan Mayrina, and Mariz Umali, and airs on GMA-7 Mondays to Fridays at 5:30 AM (PHL Time). For more videos from Unang Balita, visit http://www.gmanetwork.com/unangbalita.
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NewsTranscript
00:00Since April 9, almost 200 countries and territories will be exempted from the reciprocal tariffs of the United States, including the Philippines.
00:09Mark Zalazar will tell us the effects of this on our economy.
00:16My fellow Americans, this is Liberation Day and the day that we began to make America wealthy again.
00:26Following the first tariffs imposed by the United States on Canada, Mexico, and China,
00:32announced by US President Donald Trump on April 9,
00:37the United States will impose its reciprocal tariffs on 185 countries and territories.
00:44The tariffs will not be less than 10%.
00:48But for other countries, like China, 34% of the tariffs will be added,
00:53aside from the 20% that was first imposed.
00:57Therefore, the total tariff on Chinese products is 54%.
01:02They complain if you want your tariff rate to be zero, then you build your product right here in America.
01:08With the implementation of the reciprocal tariffs on the Philippines, 17% based on the chart issued by the White House.
01:16According to the Philippine Statistics Authority,
01:19Philippine exports of 12.14 billion dollars or 16.6% in 2024 went to America, the top export trading partner of the country.
01:31Malacanang will look into the effects of this on industries in the country.
01:37But according to the Department of Trade and Industry,
01:40the effects of the new tariffs may not be as severe compared to other countries in Southeast Asia that were imposed by a larger percentage.
01:49Like Cambodia, Laos, Vietnam, and Myanmar, where the tariffs are more than 40%.
01:57We are the second lowest reciprocal tariff in ASEAN member states,
02:03followed by Singapore, which was imposed by 10%.
02:07For example, because the tariff of the Philippines is lower than Thailand, where coconuts are also exported,
02:13Philippine coconut exports will be more competitive.
02:17We can still get investors from countries that have large tariffs.
02:26They can go to the Philippines and manufacture here because only 17% is imposed on us.
02:35According to DTI, the Philippines is also exporting products that are exempted from the reciprocal tariff,
02:41such as copper ores, integrated circuits, and others.
02:46Although agri-based products, particularly food, are included in the additional tariff.
02:52But according to an economist, because it is expensive to buy in America,
02:58it may give way to higher interest rates, which may result in an increase in Pesos versus Dollars.
03:07Since we are a net importing country, we are importing a lot of things, including food.
03:13Especially, we are importing gasoline. That's a primary import.
03:18That's why the imports that we are using are expensive.
03:23Even our previous debts of Dollars are being paid higher.
03:28Even the debts of utilities that are being paid to our electricity or water bill are also Dollars.
03:36And if the prices in America go up, the dollar remittances of Filipinos in America will also go down.
03:44This is the first news. Mark Salazar for GMA Integrated News.
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