WITH the 19 percent duty to be levied on Philippine exports to the United States (US) set to start on August 1, the Department of Labor and Employment (DOLE) yesterday said it is preparing to assist would-be affected firms and workers.
In an interview, Labor Secretary Bienvenido Laguesma said they are in the process of readying programs to aid firms, especially micro, small, and medium enterprises (MSMEs).
“We are formulating measures because we are also anticipating their effects. As we implement our programs, we will also continue to observe the movements,” said Laguesma.
He said one of them is the Adjustment Measures Program (AMP).
The AMP seeks to protect workers and businesses from economic shocks, promote job creation, and enhance human capital and enterprise resilience.
“We want to see how we can guide those who will be harmed, especially small businesses,” said Laguesma.
Starting August 1, the US is set to impose a 19 percent tariff on all Philippine exports.
Malacañang earlier claimed that the higher tariff would have minimal impact on the Philippine economy as it is not dependent on exports to the US.
