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PHL losses from tourism standstill could reach $22.6B

THE Philippines could lose up to $22.64 billion (P1.13 trillion) or seven percent of GDP if the tourism standstill caused by the pandemic extends to 12 months, the United Nations Conference on Trade and Development (UNCTAD) said in a report.

Trade war to weed out inefficient exporters — UNCTAD

IN CASE a “full trade war” erupts, average tariffs for Philippine exporters could rise to a worst-case 30% from their current level of 2%, putting the least competitive firms at risk, the United Nations Conference on Trade and Development (UNCTAD) said in a report.