Semiconductors account for some 70 of the Philippines’ exports – but some observers are hopeful that ‘Taco’ Trump will not follow through
Semiconductors account for as much as 70 per cent of the Philippines’ exports, with 15 per cent of these destined for the US, Lachica said.
The US is the Philippines’ leading export market, with goods valued at US$1.21 billion, or 17.3 per cent of total shipments, headed there in June. Electronics, the country’s top export, earned US$3.89 billion that same month.
Electronics generated US$3 billion last June alone, while semiconductors drove a 15.17 per cent rise in merchandise exports in February last year.
Although Trump has yet to confirm whether the tariffs will take effect this week, his pronouncements come amid a wave of sweeping duties on major trading partners that have already been implemented.
