Mid-Term Vote Holds Key to Philippines Riding Out Tariff-Linked Risks

The Philippines’ May 12 midterm election is putting investors on alert for any changes to government policies, as the global trade war exposes weaknesses in one of Asia’s fastest-growing economies.

The vote to pick 12 senators, more than 300 congressmen and nearly 18,000 local officials comes as policymakers seek to boost investment and consumption against the backdrop of a more challenging external environment. It will also be a crucial test for both President Ferdinand Marcos Jr. and his estranged Vice President Sara Duterte, who are backing competing candidates.