The Philippines “must be one step ahead” of whatever policy shifts that US President-elect Donald Trump has vowed to implement once in office.
The call was made by Senate President Francis ‘Chiz’ G. Escudero who said that “beyond sending congratulatory words,” the government should start “drawing up scenarios in the Trump era and preparing a response to each.”
“Donald Trump is a major macroeconomic assumption,” Escudero said, referring to premises government use in forecasting economic performance in a fiscal year.
“From trade to security to immigration, what he said he plans to do, some on day one of his administration, would certainly impact us,” Escudero said.
If Trump pushes through with his pronouncement to carry out the greatest mass deportation in US history, “then how many of the estimated 300,000 vulnerable Filipinos will be in the first wave of expulsion?” Escudero asked.
To illustrate his point, Escudero said that even if only one percent of the 300,000 would be removed from American soil, it would require 10 big airplanes.
“How will his plan to erect high tariff walls affect our economy given the fact that almost $1 in every $7 of our export earnings come from our trade with the United States?” Escudero raised.
“Kung dahil sa kanya lalakas ang dolyar, ano ang epekto nito sa atin kung ang dulot nito ay ang paghina ng piso? Siguradong lolobo ang halaga ng ating foreign debt,” the Senate chief pointed out.
He added that even with Trump’s proposed pivot on the diplomatic front will reduce global tensions and settle wars, “these wins will still impact our fiscal position.”
“The inconvenient truth is cheaper oil will reduce tax collections on oil upon which government spending on social programs is pegged, Escudero said.
He said another important aspect of the US-PH relations that should be revisited by the Philippine side is the military alliance boosted by the Biden administration.
“On the security front, will a second Trump administration be hawkish or dovish against China? Dapat handa tayo kung sakaling may bagong posisyon ang Washington,” the Bicolano lawmaker said.
He said Trump has loudly telegraphed to the whole world what he would do if American voters would decide to bring him back to the White House. “Hindi naman sikreto ang mga ito kasi pinangalandakan niya sa kampaya at ang mga ito pa nga ang nagpapanalo sa kanya.”
So having known these in advance, the Senate leader said “there is no reason for the Philippine government to be caught flatfooted and stand helpless as the ground beneath it caves in.”