The Philippines learned the hard way that Trump considers economics separate from security or geopolitical aims when making deals
Beyond the disappointment, the trade agreement is estimated to cost Manila 27 to 32 billion pesos (US$472.7 to US$560.2 million) in revenue losses during the next five years. According to Nomura’s forecast, direct trade losses on account of higher US duties will reduce the Philippines GDP growth this year from 5.3 per cent to 4.9 per cent.
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