Moody's: Phl banks among least affected by US tariffs

Philippine banks are among the least exposed in Asia-Pacific (APAC) to the credit risks stemming from the United States' latest import tariff hikes, according to credit watchdog Moody's Ratings.

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Despite the US imposing tariffs on goods from most of its trading partners, Moody's said the impact on banks in the Philippines is "low," thanks to the country's limited trade exposure to the US and a relatively diversified economy.

"Within APAC, the lowest additional US tariffs are now in Australia, New Zealand, Hong Kong, Singapore, Mongolia and the Philippines, with these economies' banks experiencing the least damage from direct tariffs," Moody's said in the report dated April 7.