Greece prepares for second heat wave with wildfire risks
Greece is expecting a second major heatwave this summer, with temperatures forecast to rise above 40°C from Sunday, prompting warnings about public h...
The Philippines faces the lightest blow from Washington’s new tariff regime—just 17 % on average and with a third of its exports exempt—positioning Manila to lure trade and investment diverted from harder-hit neighbours, a Philippine Institute for Development Studies report says.
A Tariff Exposure Composite Index compiled by the Philippine Institute for Development Studies (PIDS) puts Manila’s overall risk at “moderate,” with an average U.S. duty of just 17 % — the smallest among the five countries surveyed (Malaysia, Thailand, Indonesia, Vietnam and the Philippines).
Although the Philippines has not escaped the trade friction sparked by President Donald Trump’s import taxes, its exposure is limited by generous exemptions: roughly one-third of Philippine shipments to the United States — mainly semiconductors, memory chips and storage devices — remain duty-free. By contrast, Indonesia pays a 32 % tariff and secures exemptions on only about 10 % of its exports, even though both nations share the same composite risk score of 2.2.
Vietnam and Thailand face far steeper headline tariffs of 46 % and 36 %, respectively, though those rates have been suspended until July. They also rank higher on the PIDS risk index, at 3.4 and 3.0, reflecting heavier reliance on the U.S. market and thinner exemption coverage.
Malaysia places second-best after the Philippines, with a 24 % duty and the region’s widest shield: exemptions protect nearly 46 % of its U.S. sales, largely in electronics and semiconductor equipment, giving it a risk score of 2.8.
Despite the advantage, PIDS warns the Philippines still trails Malaysia and Vietnam in manufacturing scale, logistics and its ability to absorb fresh investment. “The Philippines is strategically positioned to benefit,” wrote study author and former trade undersecretary Rafaelita Aldaba. “Its low tariff rate, strong exemptions for key exports and moderate exposure create an opportunity to attract trade and investment shifts. But real gains will hinge on rapid improvements in logistics, investment facilitation and targeted export promotion.”
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
Indonesian rescue teams continue to search for 30 people missing after a ferry sank near Bali, with six confirmed dead and 29 rescued, amid difficult weather and sea conditions.
An explosion at a gas station in eastern Rome on Friday has injured multiple people and forced the closure of a nearby metro station, according to local media reports.
More than a 1,000 civil society representatives gathered in Seville this week for a major United Nations conference on development financing, but many said they left feeling side lined and frustrated, with expectations already low before the event began.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 4th of July, covering the latest developments you need to know.
Hamas is seeking firm assurances that a new U.S.-backed ceasefire proposal will ultimately bring the Gaza conflict to an end, a source close to the group said on Thursday, as Israeli airstrikes continued across the territory, killing at least 59 people, according to local health officials.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment