‘Int’l trade war weakening peso’

The international trade war is triggering negative effect on the Philippine economy, Sen. Sherwin T. Gatchalian said yesterday. Another reason for the current weak Philippine economy is the depreciation of the Philippine peso which already hit the P54$1 mark, Gatchalian, chairman of the Senate economic affairs committee, said. “This has a big effect on a net importing country (like the Philippines),” he added. Gatchalian, a member of the Senate majority bloc, said the first two years of President Duterte were “quite stable.” He said the current trade war started by President Donald Trump was not foreseen in that Trump won the US presidential elections. (Mario B. Casayuran)