THE Philippines could lose at least $1.22 billion in export revenues across the sectors of mechanical and electrical machinery, equipment and parts, coconuts, crustaceans to the United States, its largest export destination, due to the anticipated broader application of tariffs under the second regime of US President Donald Trump, according to a study by the Congressional Policy and Budget Research Department (CPBRD).
The remaining products expected to have the “highest gains” for the Philippines are knitted or crocheted garments “not elsewhere classified”; cement, concrete or artificial stone; men’s suits, ensembles, jackets, blazers, trousers, bib and brace overalls, breeches, shorts; festive, carnival, or other entertainment articles; and electro-magnets.
Lastly, Philippine outbound shipments of telephone sets, including smartphones and other telephones for cellular/wireless networks and other apparatus for the transmission of reception of voice, images, or other data, are expected to decrease by $130 million.
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