Local sectors at risk from open market terms

The agriculture sector could be in deep trouble if the government moves to open up the market to imports from the United States (US) as part of concessions to reduce the 19 percent tariff slapped on Philippine goods, according to the Philippine Chamber of Agriculture and Food Inc. (PCAFI).

- Dexter Barro II

PCAFI President Danilo Fausto said the government's top negotiators must tread carefully to balance the interests of exporters and local industries as they aim to conclude a reciprocal tariff agreement with the US.

Unlike the trade deals already secured by neighboring countries in Southeast Asia, Fausto said the country's agreement should ensure that critical agricultural products are protected.

He stated that an unfair deal could significantly impact the country's agricultural productivity and drive up prices, thereby further accelerating inflation.

"If you're going to be killed by imported goods, how are you going to fight?" he told reporters.

Earlier, US President Donald Trump formalized reciprocal tariff agreements with his counterparts from Thailand, Cambodia, and Malaysia, allowing the three countries to secure zero tariffs on certain imports.