Trump's Tariffs Take Effect

Phl Meets With Asean Today

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WASHINGTON — US President Donald Trump's punishing tariffs on dozens of economies came into force yesterday, including over 100 percent in levies against Chinese goods, sending markets into a tailspin again as the devastating global trade war intensified.

Following the sweeping 10 percent tariffs that took effect over the weekend, rates on imports to the United States from exporters like the European Union or Japan rose further on Wednesday.

China — Washington's top economic rival but also a major trading partner — is the hardest hit, with tariffs imposed on its products since Trump returned to the White House now reaching a staggering 104 percent.

In Manila, Trade Secretary Cristina Roque told reporters the Philippines is set to meet today with other members of the Association of Southeast Asian Nations (ASEAN) to discuss the bloc's response to Trump's reciprocal tariffs announced last week.

"So there, we will really discuss what will be the stand of everyone," Roque said. "But of course, we have an advantage of the 17 percent tariff. Our tariff is lower compared to our ASEAN neighbors."

At a meeting on Tuesday, the administration's economic team agreed that retaliation is off the table, Roque said.

Trump said on Tuesday his government was working on tailored deals with trading partners, with the White House saying it would prioritize allies like Japan and South Korea.

His top trade official Jamieson Greer also told the Senate that Argentina, Vietnam and Israel were among those who had offered to reduce their tariffs.

Trump told a dinner with fellow Republicans on Tuesday night that countries were "dying" to make a deal.

"I'm telling you, these countries are calling us up kissing my ass," he said.