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US imposing 100% tariffs on semiconductors would be devastating for the Philippines

Danilo Lachica, President of Semiconductor and Electronics Industries Foundation, noted that semiconductors account for approximately 70% of the Philippines’ exports

LONDON, August 7. /TASS/. The United States’ planned introduction of 100% tariffs on semiconductors would be a "devastating step" for the Philippine economy, according to Danilo Lachica, President of Semiconductor and Electronics Industries (SEIPI) Foundation, the largest organization representing both foreign and Filipino electronics companies in the country.

He noted that semiconductors account for approximately 70% of the Philippines’ exports, Reuters reported.

US President Donald Trump announced on Wednesday that Washington intends to impose import tariffs of around 100% on microchips and semiconductors. The American leader stressed that technology companies manufacturing equipment within the United States "will not have to pay" these tariffs.

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