Duterte blames Trump tariffsfor PH'shigh-record inflation
PRESIDENT Rodrigo Duterte on Friday, September 7, attributed the Philippines' high-record 6.4 percent inflation in August to United States (US) President Donald Trump's imposition of tariffs on some goods.
“[High] inflation is dahil sa kay Trump when Trump raised 'yung mga tariff niya pati banned other items. Nagkaloko loko ang [presyo ng bilihin] ,” Duterte said in a speech delivered before the Filipino community on Friday night (Manila time). ([High] inflation is because of Trump, when Trump raised the tariffs and banned other items. There have since been fluctuations in [ the prices of goods].)
Duterte made the remark after inflation in the Philippines soared to 6.4 percent in August, the fastest in nine years since March 2009's 6.6 per cent .
Trump's trade war against China has geared up by imposing a 25percent tax on Beijing's goods in July.
China retaliated by also implementing a similar 25 percent on US's products.
Economists have raised concerns that the escalating trade conflict between the US and China might lead to an uptick in inflation.
Duterte, nevertheless, assured the public that the government was addressing the rising prices of goods and services.
He said he would defer to his economic managers to address inflation, stressing that they are “brighter” than him.
“I am not apologizing. There is really inflation in the Philippines and we are trying to control it,” the Chief Executive said.
“Huwag kayong [magalit] (Do not get mad). I'm not, I'm no better than the rest of the [ economic managers in our country]. Mas bright 'yung sila (They are brighter than me),” he added. (SunStar Philippines)