Hurried

The scheduling seems hurried.

- ALEX MAGNO

Information from the Palace is, as usual, scarce.

On July 20 to 22, President Bongbong Marcos is flying to Washington for a working visit. Apparently, our hardworking ambassador to the US, Babe Romualdez, managed to cut some time for BBM to call on Donald Trump. In his column in this paper last Sunday, however, he provides us few clues about the projected visit. That can only indicate that the details of the projected meeting are still up in the air.

One can only surmise that this hurriedly scheduled visit is related to the 20 percent tariff rate Trump imposed on Philippine exports to the US. Those new tariffs are due to come into effect Aug. 1—unless Trump chickens out again.

Over the last few days, Trump announced 30 percent tariffs on Mexico and the European Union. Before that, he threatened Brazil with a 50 percent tariff rate for prosecuting Jair Bolsonaro, a Trump ally. This is brazen interference in Brazil's domestic processes.

In Trump's assessment of US trade deficits, he accounts only for trade in goods. He does not factor in trade in services, where the US dominates the rest of the world.

The 20 percent tariff imposed on Philippine exports is the second lowest in the Southeast Asian region. But it is still double the 10 percent imposed on Singapore. Our economic managers insist the higher tariff rate (higher than the 17 percent originally imposed on us) will hurt our growth.