PH, Japan discuss Trump tariffs' impact on world economy 

The Philippines and Japan discussed the impact of the tariff measures of the United States on the world economy, Japanese Prime Minister Shigeru Ishiba said Tuesday.

During the joint press conference, Ishiba said he told President Ferdinand ''Bongbong'' Marcos Jr. that he would listen to the ''voices'' to bring better solutions on the matter.

''On the status of the global economy, we discussed on the tariff measures taken by the United States as well as the impact felt on the multilateral free trade regime and the world economy because of the reciprocal retaliations seen between the United States and China,'' Ishiba said.

''Many Japanese companies have been playing a role in the local economy here in the Philippines. I conveyed to President Marcos that I will listen carefully to the voices so that they will be able to bring forth better solutions,'' he added.

The Philippines has not been spared from the global trade wars triggered by US President Donald Trump's tariffs, but it faces a comparatively modest 17% tariff, the lowest among five regional economies.

Further, Ishiba vowed that Japan would support the Philippines with its aim of achieving upper-middle income status.

For his part, Marcos said the Philippines accords great importance to its relations with Japan ''as its reliable and steadfast partner in the region.'' The President said Japan is the Philippines' second largest economic partner.

''With the Philippines-Japan Economic Partnership Agreement (PJEPA) that we have in place, we continue to look for ways to strengthen our business ties with Japan to broaden economic opportunities for Filipinos,'' Marcos said.

"Japan is one of the top bilateral partners that we have for trade, investment, and development cooperation," he added. —LDF, GMA Integrated News