US, China trade war to indirectly affect Philippines - Pernia
The trade war between the United States and China has "indirect" effect on the Philippines, Socioeconomic Planning Secretary Ernesto Pernia said on Friday.
This was after the word war of the two giant nations came into reality, with US imposing tariffs on $34-billion worth of Chinese goods started on Friday.
China retaliated by slapping tariffs on some imports from US, news reports said.
In a text message, Pernia said the trade war between Washington and Beijing has no direct effect on the Philippines.
"Not directly because we don't export steel and aluminum," he said.
However, the chief government economist said it has an indirect effect.
"Yes, indirectly to the extent that trade war would adversely affect global economic growth thereby affecting our trade."
Based on April trade figures, the US is the Philippines' number two export market while China is fourth. China is the Philippines main source of imports while the US ranks fourth. Celerina Monte/DMS