CHIEF Presidential Legal Counsel Juan Ponce Enrile expressed uncertainty over the economic effects of the ongoing tariff war involving the United States, Canada, Mexico, and China, warning that the situation is becoming increasingly complex.
“The domestically and globalized economic impact of the tariff war among the US, Canada, Mexico, and China is still uncertain,” Enrile said in a Facebook post on Wednesday, Feb. 5.
He noted that while the trade tensions continue to escalate, their full consequences remain unclear. “It is slowly turning into a complex global situation whose outcome can not be ascertained right now,” he added.
The statement comes amid the US imposing a 10 percent tariff on Chinese goods and initially planning a 25 percent tariff on imports from Canada and Mexico.
However, the latter measure has been postponed following discussions between US President Donald Trump and Canadian and Mexican leaders.
The move is expected to prompt retaliatory actions from the three affected nations.
Enrile emphasized that despite growing concerns, the overall impact remains uncertain, citing that only 12 percent of the US’ total Gross Domestic Product (GDP) is generated from global trade—half of which comes from Canada and Mexico.
“The larger question, as I see it, is will such tariff move lead to the disruption of the USA’s economic, political, diplomatic, security, and other relations with other countries?” Enrile asked.
He further raised concerns about whether this could signal a shift toward US isolationism or even spark conditions similar to those that led to World War II.
“Will it presage the international condition similar to that which resulted in World War II? Will it trigger the rearming of some countries for self-preservation?” he added.
As global markets monitor the developments, Enrile warned that the world may be heading toward uncharted economic and geopolitical territory.