Philippines may gain from US-China trade war —ADB

The Philippines could gain from the ongoing trade tensions between China and the United States by stepping in and supplying the demand for electronic goods, the Asian Development Bank (ADB) said Wednesday.

“Philippine producers of electronic goods can attract demand coming from China,” ADB director for Macroeconomic Research Joseph Zveglich Jr. said in a press conference in Pasig City.

Trade tensions between China and the US have deepened, with both countries imposing steeper tariffs against each other’s products.

The US slapped a 10-percent duty on $250 billion worth of Chinese goods, while China retaliated by imposing higher tariffs on $110 billion of American goods.

“Immediate impact is tending to be negative ... There might be some possibility for gain ... It would be in the direction of the supply chain,” said Zveglich.

London-based Fitch Ratings earlier in the week said the ongoing trade war is now a reality, which could have a material impact on global growth. —VDS, GMA News