Impact of U.S. Tariffs on Philippine Semiconductor Exports
The U.S. plan to impose 100% tariffs on semiconductors could severely affect the Philippines as semiconductors make up about 70% of its exports. The president of the Philippine semiconductor industry, Dan Lachica, expressed concerns about the potential devastating impact on the country's economy.
- Country:
- Philippines
The United States' proposal to levy 100% tariffs on semiconductor imports could have catastrophic effects on the Philippines' economy, industry leaders warned this Thursday.
According to Dan Lachica, president of the Philippine semiconductor industry, semiconductors account for approximately 70% of the nation's total exports, underscoring the vital role this sector plays in the country's financial health.
With such a high dependency on semiconductor exports, the proposed tariffs present a significant threat to the stability of the Philippine economy.
(With inputs from agencies.)
Advertisement
Google News