Globe Telecom CEO says Philippines can cope with US tariffs' impact
The Philippines could withstand the impact of US tariffs due to its high levels of domestic consumption, the new CEO of Globe Telecom has said, as he laid out his vision for the telecommunications company 's future anchored in artificial intelligence.
Carl Raymond Cruz, who was elevated to the role of CEO and president of Globe Telecom in April, also said that the company was waiting for the 'right time' to launch the highly anticipated initial public offering (IPO) for its e-wallet affiliate GCash, owing to uncertainties in the capital markets.
GCash is operated by Mynt, which is a joint venture that includes Globe Telecom.
Cruz replaced Ernest Cu, who led Globe Telecom for 16 years, at a time of profound uncertainty in the global economy as a result of tariffs imposed by US President Donald Trump.
The Philippines was initially facing a 17 per cent tariff on all its exports to the US, though that was later reduced to a baseline 10 per cent levy when Trump announced a 90-day pause in Washington's so-called 'reciprocal tariffs' for all countries except for China last month.
When asked by the Post in a recent interview whether he was concerned about the tariffs, Cruz said that there was a belief within Globe Telecom and the wider Filipino business community that the country would be able to withstand their impact.
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