PIDS and Bangko Sentral on navigating Trump’s reciprocal tariffs; more drama

Their executive director sees the “silver lining,” but the Confederation of Wearable Exporters of the Philippines is not taking things lightly. CONWEB’s Marites Jocson-Agoncillo says that they have been “in trouble” already before the Trump administration revealed the United States’ additional tariffs to be imposed on trade partners. How?

The bright side of Philippine garments, she says, can be found in her impromptu details: “This is a very critical moment for the industry. Suppose Cambodia and Vietnam would get a little higher than 17 percent. In that case, I can still exist… as long as my (Association of Southeast Asian Nations) counterparts have a higher number, I have a silver lining.” 

Jocson-Agoncillo tells the crowd of the PIDS policy forum titled “Seizing the Shift: Navigating Trump’s Reciprocal Tariffs” May 26 at Bangko Sentral ng Pilipinas in Manila and via Zoom: “(I) have about 5,815 tariff lines, I’m involved in 15 chapters because it’s apparel, textile, shoes and bags.”

And more to the ever-evolving industrial drama (clowning first?): A May 29 ruling of an American trade court blocks tariffs and sees Trump going beyond his authority. Economic analysts say this gives some precious time and relief to the market.

This might be the reason several PIDS panelists think it is better to wait for more validation of what has transpired after February 1, when Trump proposed imposing 25% tariffs on Mexican and most Canadian imports, and 10% on goods from China, potentially distressing the global economy in this Trump-led “trade war.”

Reciprocal tariff implications and the Philippine public and private sectors’ strategies are put on the table, with helpful analyses coming PIDS Emeritus Research Fellow Dr. Rafaelita M. Aldaba and other experts.

Exploring an “inflection point” for the country, Aldaba notes among others the basics of complying with rules of origin to ensure “sufficient transformation and value addition.” She would later conclude: “The Philippines is moderately exposed, but well-positioned; it needs structural reforms to attract recalibration; a digital, skilled, and resilient economy is key; and seize the window before competitors move ahead.”

Keynote speaker Mr. Rodrigo Balbontin of the Information Technology and Innovation Foundation flashes reflective presentations of various concerns on tariffs, citing USTR’s National Trade Estimate Report, including “a weak IP protection system, foreign ownership restrictions in several sectors, and technical and sanitary barriers to trade.”

Some bullet points of “what we know so far,” says Balbotin, are: “reduce reciprocal tariffs” by starting negotiations as step 1; “symbols and announcements are important”; and “be realistic: tariffs could be reduced but not eliminated.” He mentions that the US exports are endangered as well because of retaliatory tariffs.

Balbotin has fairly predicted that “so far, no legal changes in the U.S.” as can be gleaned from a Federal court verdict three days after his lecture.

Governor Eli M. Remolona Jr., PhD, leads the Bangko Sentral ng Pilipinas in the hosting chores of this two-part panel session under the direct supervision of Philippine Institute for Development Studies President Aniceto C. Orbeta Jr., Ph.D. The forum closes after hearing more valuable insights from the PIDS leader.

Added features of the forum are the well-moderated Q&A during “the policy response: aligning trade with industrial strategy” from panelists that include a top official from the Commission on Higher Education (CHED) and “the business response: turning disruption into opportunity” with honorary chairman and leader of both the Employers Confederation of the Philippines (ECOP) and Philippine Exporters Confederation (PHILEXPORT) Mr. Sergio R. Ortiz-Luis Jr. and other senior and young management practitioners.

Tanghalang Nasyonal

Switching between heartbreaks and comedy, student-actors from Tanghalang Nasyunal of National University showcased their talent in various timeslots for almost a week this May and, subsequently, the effort soon paid off as they were invited by a large organization of public servants for their repeat performance on a bigger stage at the Rizal Park Open-Air Auditorium, Manila in the coming days.

According to university officials, the three different plays of Tanghalang Nasyunal were among the most impressive and fiercest performances by their students in almost 15 years.

Hermosa, Bataan native and NU-Manila communication student Jarelyn Brillantes Waje, who was one of the playwrights of Tanghal Season 1, hoped that the cast and the entire production team under directors Stephanie Dulla, Leila Malindog, and Loriezane Magno would continue to collaborate and intend to become a source of university pride and promote the country’s culture and the arts, balancing them all while studying hard.

The plays were themed with reflections of social issues, including the legal and ethical protection of the public by law enforcement officers and proper handling by superiors, the improvement of the plight of persons deprived of liberty (PDLs), and even lessons of reliance on luck, prodding students to painstakingly prepare for board exams and other academic life challenges.

Sponsorships, as well as support from, and patronage of, the NU professors, administrators, and co-academic staff, were sufficient in the art of performance by Nationalians who are talented in theater arts, writing, directing, and producing quality performances such as “In-Mate,” “Chief, Patawad,” and “Hula mo, Pass Ako.”

AFP Radio DWDD has plugged that MUSIKALAYAAN 2025 happens at 5 p.m. of June 5 in Luneta, with free admission. The concert’s main performer is Tanghalang Nasyonal.

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