Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
Philippines' SteelAsia sees 'no direct impact' from US-China trade row
Philippines' SteelAsia sees 'no direct impact' from US-China trade row
Warren de Guzman,
ABS-CBN News
Published Mar 05, 2018 07:57 AM PHT
A commercial establishment undergoes construction in Iloilo City on December 19, 2017. Mark Demayo, ABS-CBN News
MANILA - The Philippines' largest steel rebar maker said it saw "no direct impact" from a plan by US President Donald Trump to raise tariffs on the metal.
Targeting China, Trump last week said he was imposing a 25-percent tariff on steel and 10 percent on aluminum, sparking fears of a global trade war.
"The Philippines is not a big trading partner of the US for steel. So, there will be no direct impact," SteelAsia president Adrian Cristobal Jr. said in a statement Sunday.
"We don’t believe there will be supply issues for construction steel as a result of the new US policy," Cristobal said.
ADVERTISEMENT
SteelAsia manufactures cylindrical steel bars or rebars that are used in construction.
Cristobal said the new US policy might even benefit the Philippines since steel products meant for the US could be diverted to Asia and other markets.
ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.
Our website is made possible by displaying online
advertisements to our visitors. Please consider supporting
us by disabling your ad blocker on our website.
Our website is made possible by displaying online
advertisements to our visitors. Please consider supporting
us by disabling your ad blocker on our website.
