Emergency Hotlines: LANDLINE (+63) 2 911 – 8688

Freeland: ‘Idea’ that Canada could pose nat’l security threat to U.S. ‘hurtful’

by UNTV News   |   Posted on Thursday, June 14th, 2018

FILE PHOTO: Canada Foreign Minister Chrystia Freeland speaks to media in Quebec City, Quebec, Canada June 10, 2018. REUTERS/Yves Herman/File Photo

Canada’s Minister of Foreign Affairs, Chrystia Freeland, said on Wednesday (June 13) that the U.S. is violating the “very rules it helped to write” for slapping tariffs on Canadian steel and aluminum. Freeland was being awarded the Diplomat of the Year Award from Foreign Policy magazine.

Earlier on Wednesday, Freeland said after talks with members of the U.S. Senate Foreign Relations Committee that U.S. trade actions against Canada are illegal under World Trade Organization rules. She reiterated that point when delivering remarks after receiving the award in diplomacy.

Freeland said Canada believes the U.S. use of a national security rationale to impose tariffs on Canadian steel and aluminum imports is “more than absurd — it’s hurtful.” — Reuters

Tags: , , , ,

Tariffs impact U.S. apparel companies, consumers: expert

by UNTV News   |   Posted on Thursday, September 27th, 2018

Customers choosing sneakers sold in Stadium Goods | REUTERS

U.S. tariffs on imports from China will not only impact companies but also the consumers said an expert in an interview with China Global Television Network in Beijing on Tuesday.

Sara Hsu is an associate professor of economics at the State University of New York at New Paltz. She said it was not clear what percentage of the tariffs the companies would pass on to the consumers but it would definitely impact the consumers.

“It’s definitely going to impact the consumers in terms of higher cost as well as the companies. So there might be a split in terms of the company taking part of the hit and passing part of cost on to the consumers as well. And starting from January 1, the tariffs will go from 10 percent to 25 percent. So that’s a really significant increase,” said Sara.

China is the largest supplier of textiles and apparel to the U.S. market, accounting for about 40 percent of American imports in the sector, according to the statistics of the United States Fashion Industry Association (USFIA).

The industry relies on sourcing from China to provide American consumers with affordable and varied choices. But the tariffs will impact the multinational companies in the U.S. in the industry, said Sara.

“A lot of the American multinational firms are producing their goods overseas. So that’s why the tariffs on exports from China are going to impact the American multinational companies. And these multinational companies would like to move to a different place, especially given the tariffs that just kicked in. But it’s really hard for them to do,” said Sara.

She added that there would be a high cost for the companies to move and set up shops in other countries with a level of development and have low wages.

It can take up to five years to move from China to another country, Sara said. The situation hasn’t happened yet, but a lot of companies are not reassuring to the U.S. instead of relying on automation in order to produce their products because American labor costs so high. — Reuters

Tags: , ,

Duterte blames Trump’s import tariffs for inflation in PH

by UNTV News   |   Posted on Monday, September 10th, 2018

President Rodrigo Duterte via PCOO; U.S. President Donald Trump via Reuters

From 5.7 percent in the month of July, the inflation rate in the country increased to 6.4 percent in August 2018.

This is the highest inflation rate reported by the Philippine Statistics Authority (PSA) in nine years.

President Rodrigo Duterte blames the policies of US President Donald Trump for the high inflation rate in the Philippines.

The Chief Executive first mentioned this during his meeting with the Filipino community in Jordan.  He said the inflation in the country is directly affected by the tariffs imposed by Trump administration on imported goods from its trading partners.

“Who started it? The United States of America. When USA increased the price of rice, everything increased. We can do nothing about it. It’s the economy,” he said.

The United States has imposed a series of tariffs on products coming from various trading partners such as the European Union, Canada, Mexico and especially China.

These tariffs have angered trading partners and implemented retaliatory tariffs on US goods.

Meanwhile, Duterte alleged that the opposition is using the issue of inflation against his administration.

This is after reports surfaced that an oust Duterte movement is allegedly being organized for October 2018.

“They are feeding on that eh, rice, tapos itong inflation. Iyon ‘yung ginagamit nila in preparation for this October. Maybe this October,I can… I’ll have to talk to the military and the police,” Duterte said. — Rosalie Coz

Tags: , , ,

Trump, Trudeau, and Pena Nieto celebrate 2026 World Cup bid win with tweets

by UNTV News   |   Posted on Thursday, June 14th, 2018

The United States, Mexico and Canada will jointly host the 2026 World Cup, overwhelmingly winning a vote by soccer’s world governing body on Wednesday (June 13), even though U.S. President Donald Trump has frayed relations with his neighbors and others during his 18 months in office.

Trump, who has called for a wall to be built on the U.S. southern border and paid for by Mexico as part of a tougher immigration policy, just days ago personally criticized Canadian Prime Minister Justin Trudeau over a trade dispute.

U.S. Soccer Federation President Carlos Cordeiro suggested to reporters on a conference call after Wednesday’s vote at FIFA’s Congress in Moscow that bringing the three countries together was more of a challenge than any Trump effect in overcoming the challenge from the competing bid from Morocco.

The North Americans pledged their tournament would generate an $11 billion profit for FIFA – greater than any previous World Cup finals – a financial shot in the arm for world soccer’s governing body, which has been rocked by a corruption and bribery scandal ensnaring top officials.

Morocco, which has now failed in five bids to host the World Cup, said their tournament would make $5 billion.

Trump praised the outcome on Twitter as the result of “a great deal of hard work.” Mexican President Enrique Pena Nieto tweeted “We did it!” and Trudeau also took to Twitter to say: “Congratulations to everyone who worked hard on this bid – it’s going to be a great tournament!”

Under Trump, relations between the United States, Canada, and Mexico have plumbed new lows thanks to disputes in the renegotiation of the 1994 North American Free Trade Agreement, known as NAFTA, a $1.1 trillion trade pact that ties the three countries’ economies together and which Trump has said should be scrapped.

Although it will be the first World Cup to be hosted by three countries, most matches will be played in the United States. As part of the bid, Trump pledged that those traveling to the United States for the tournament would not be subject to stringent visa restrictions.

Even if Trump were to be elected for a second four-year term in 2020 he would not be president when the World Cup kicks off in 2026. — Reuters

Tags: , , ,