MANILA, Philippines — Traders woke up to a 17-percent tariff slapped by United States President Donald Trump on goods coming from the Philippines, part of the sweeping tariffs that caused a
President Donald Trump announcing the new tariffs at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein)
Traders woke up to a 17-percent tariff slapped by United States President Donald Trump on goods coming from the Philippines, part of the sweeping tariffs that caused a bloodbath across global markets on Thursday.
By the end of the session, the Philippine Stock Exchange Index (PSEi) fell by 1.63 percent, or 101.95 points, to close at 6,145.73.
This represents the PSEi’s worst performance since March 11, or the day former President Rodrigo Duterte was arrested.
Likewise, the broader All Shares Index lost 1.1 percent, or 40.71 points, to 3,664.41.
Analysts note, however, that this may have been a knee-jerk reaction to the reciprocal tariffs rolled out by Trump, adding that the Philippine economy was still driven by domestic consumption.
