Reprieve

AS we, in this part of the hemisphere, were sleeping, the other side of the trading world was greeted with a surprise proclamation that the United States’ (US) reciprocal tariff on 185 economies, including the Philippines but excluding China, will be put on hold for 90 days.

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Yes Virginia, there’s a three-month relief on the imposition of the reciprocal tariff, but we still have to contend with the universal 10-percent tariff on imports from all countries.

And I fully agree with the observation that the April 2 tariff declaration, which was scheduled to take effect Wednesday, April 9, sent shock waves since it was likened to a structural reform, thus reshaping the global economic system.

It’s a dramatic reversal. Alright, US President Donald Trump blinked, as the hike in tariff sent the global economy on a rollercoaster of emotions—chaos and panic—teetering on the edge.

There are different perspectives on the issue: to some, it’s a carrot-and-stick approach, while others equated it to a military tactic of shock and awe—displaying an impressive show of power and authority to paralyze or overwhelm the enemy’s perception of the economic battlefield.