US EditionPhilippine Stocks Rise as Investors Cheer Tariff Exemptions
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4 Articles
Philippine stocks rise as investors cheer tariff exemptions
MANILA, Philippines — The local stock barometer climbed back to the 5,800 level on Wednesday as investors reacted positively to news that over $1 billion worth of agricultural exports to the United States got spared from the tariff. The Philippine Stock Exchange Index (PSEi) went up by 0.99 percent, or 57.05 points, to close at5,813.71. The broader All Shares Index also gained 0.63 percent, or 20.29 points, to 3,251.84. Among the key sectors, on…
US Lifts Tariffs on Philippine Agricultural Exports Worth $1 Billion
More than $1 billion worth of agricultural products from the Philippines will be exempted from reciprocal U.S. tariffs after President Donald Trump removed duties on numerous goods to bring down cost of living, officials in Manila, the capital of the Philippines, said on Nov. 18. Bananas, coconuts, mangoes, dried guavas, coffee, tea, spices, and certain fertilizers are among the products that will no longer be subject to the 19 percent levy when…
Tariff Exemption Of Select Philippine Agricultural Products To Boost Competitiveness
The competitiveness of the country’s agricultural exports is expected to be bolstered after the US announced last week exemptions of several products from the 19 percent reciprocal tariff. Included in the exemption, based on the US government announcement on Nov. 14, are coconut oil, prepared or preserved coconuts, and desiccated coconuts; fruit juices; processed pineapples; bananas, other than pulp; dried guavas, mangoes, and mangosteen; frozen…
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