Philippines Cuts 2025 GDP Growth Goal as Tariff Deadline Looms

The Philippine government cut its economic growth target for this year and expects exports to contract, highlighting lingering trade risks as US President Donald Trump’s tariff deadline nears.

The economy is now targeted to expand 5.5%-6.5% this year from a previous goal of 6%-8%, Finance Secretary Ralph Recto said in a mobile-phone message on Thursday.