Marilyn Cahatol

President Ferdinand R. Marcos Jr. meets  with U.S. President Donald J. at the White House in Washington D.C., USA on July 22, 2025.

Priority issues discussed during the visit include enhancing trade and economic cooperation following the recently imposed 20 percent U.S. tariff on Philippine exports, as well as strengthening the alliance between the two countries.
Presidential Communications Office

Article (news)

MARCOS

Jekki Pascual

ABS-CBN News

<p>MANILA — Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said the effects of the 19 percent United States tariffs on some Philippine products may only result in “modest” effects on the Philippine economy.</p><p>At the sidelines of the Project Open Finance x PERA in Manila, Remolona said only certain goods are affected and the Philippines in general does not rely heavily on US trade to have a significant impact on the overall economy.</p><p>“There are sectors that are exempt. We are not a big trading economy. That limits the impact on us. But growth is already slowing down globally so that can have some effect,” he said.</p><p>Remolona added that there is a bit of clarity on the tariffs issue. This can help ease earlier global trade uncertainties.</p><p>“Ang maganda niyan medyo nag clarify na ng konti, nag clarify na yung tariff situation… Globally it’s much clearer now than before. Our issue is global, spillover effects,” he added.</p><p>Meanwhile, Remolona said there could be two more policy rate cuts this year.</p><p>However, they will still need to collect more data and they await the release of the latest gross domestic product and inflation figures.</p><p>When asked if the easing cycle will continue, the central bank chief said there are many factors to consider.  </p><p>He mentioned the so-called goldilocks rate or a balanced policy rate that is not too high or too low.</p><p>“You know we have this ‘goldilocks rate’. We don’t want to go too much below that. But our estimates for the goldilocks rate are imprecise. We have to look at all sorts of other data,” he said.</p><p>The BSP has at least three more Monetary Board policy meetings this year- in August, October, and December.</p><div><a href="https://www.abs-cbn.com/news/business/2025/7/29/dti-says-reduction-in-trump-tariffs-already-a-win-1529">DTI says reduction in Trump tariffs &#x27;already a win&#x27;</a></div><div><br/></div><div><strong>RELATED VIDEO:</strong></div><div style="text-align:center"><iframe width="560" height="315" src="https://www.youtube.com/embed/AlCtUkobx70?si=dVyaEn-ctuRy0qeg" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe><br/></div>

<p>Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said the effects of the 19 percent United States tariffs on some Philippine products may only result in “modest” effects on the Philippine economy.</p>

Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said the effects of the 19 percent United States tariffs on some Philippine products may only result in “modest” effects on the Philippine economy.

Effects of US tariffs 'modest' on PH: BSP chief

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Effects of US tariffs 'modest' on PH: BSP chief

Jekki Pascual,

ABS-CBN News

Published Jul 29, 2025 08:13 PM PHT

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