US Slaps 12.5% Tariff on Philippine Goods Over Failure to Curb Forced Labor Imports
Economy

US Slaps 12.5% Tariff on Philippine Goods Over Failure to Curb Forced Labor Imports

The United States has imposed an additional 12.5% tariff on goods imported from the Philippines, citing the country's failure to curb the importation of products made with forced labor. The Philippine Department of Trade and Industry stated its intention to continue engaging with the US and emphasize its policies against forced labor.

This article requires PRO

This article is outside the free access window or is a special report. PRO unlocks it and the full archive.

  • PEZA Nears P300 Billion Investment Goal Amid Surge

    The Philippine Economic Zone Authority (PEZA) is nearing its P300 billion investment target for the year, with investment approvals surging 92% to P297.14 billion from January to September. This encompasses 222 projects expected to generate $8.95 billion in exports and create 33,331 direct jobs.

  • Philippine Stocks Tumble on Soaring Inflation

    The Philippine stock market plunged after the country's September inflation rate hit a three-year high of 7.2 percent. Concerns over potential additional interest rate hikes by the central bank weighed on investor sentiment.

  • PLDT Defers VITRO Data Center Listing Amid Economic Headwinds

    Philippine telco giant PLDT Inc. has postponed the planned initial public offering (IPO) of its data center arm, VITRO Inc., to 2027, citing rising interest rates and worsening economic conditions as key factors for the deferral.

  • PhilHealth Faces 2027 Budget Shortfall, Health Groups Demand Transparency

    Philippine healthcare organizations are calling for an additional P37.6 billion for the Philippine Health Insurance Corp. (PhilHealth) for 2027, citing a projected budget shortfall. They also demand greater transparency and accountability for the Medical Assistance for Indigent and Financially Incapacitated Patients (MAIFIP) fund, urging its abolition.