PHL industry welfare ‘central’ to US tariff negotiating stance – BusinessWorld Online
SECRETARY Frederick D. Go said the Philippine delegation to Washington pursued tariff negotiations with the US with an eye towards ensuring the welfare of Philippine industries.
Mr. Go, the Special Assistant to the President for Investment and Economic Affairs, said in a statement that last week’s talks “went very well,” adding that the Philippine delegation “made sure to put the welfare of local industries at the center of our negotiations.”
“We are hopeful that these discussions mark the beginning of a process toward arrangements from both sides that will not only strengthen US-Philippines trade ties but also help diversify our country’s export markets,” he added.
The Philippine delegation met with the US Trade Representative (USTR) on May 2 to negotiate tariff rates for Philippine goods.
US President Donald J. Trump imposed reciprocal tariffs on most trading partners, with Philippine goods assigned a 17% tariff, the second-lowest rate in Southeast Asia.
The reciprocal tariffs were subsequently put on hold until July, with Mr. Trump announcing a 90-day pause while charging most trading partners the 10% baseline rate in the interim.
“Our goal for this meeting is a partnership that benefits both sides and supports the growth of our industries at home,” Mr. Go said.
The Philippine delegation also included Trade Secretary Ma. Cristina A. Roque and Philippine Ambassador to the US Jose Manuel D. Romualdez.
“We were able to clearly convey to the USTR our local industries’ asks and concerns, and we are hopeful this will yield our desired results,” Ms. Roque said.
Prior to the Philippine delegation’s visit to the US, Ms. Roque had expressed the hope for zero tariffs on Philippine exports. — Justine Irish D. Tabile
