Donald Trump winning the 2024 election will affect the manufacturing trade in SE Asia. Trump said that, if elected again, he would impose an across-the-board tariff of either 10% or 20% on every import coming into the US and an upward tariff of 60% on all Chinese imports. (CNN). “I want German car companies to become American car companies. I want them to build their plants here,” Trump said. (Reuters)
But one of the other concerns is the knock-on effect of outsourcing especially here in the Philippines. The Philippines, a global leader in business process outsourcing (BPO), is bracing for potential fallout from Trump’s policies. The country’s BPO sector contributes over $20 billion annually to the economy and employs more than 1.2 million people. However, Trump’s push to encourage U.S. companies to bring jobs back home could threaten this vital industry. While Philippine officials may seek new trade agreements with the U.S., the long-term outlook remains uncertain. Meanwhile, the IT and Business Process Association of the Philippines (IBPAP) remains optimistic, asserting that demand will stay strong regardless of the outcome of the U.S. presidential election. (outsource accelerator)
