Manila willing to offer zero tariffs

Finance Secretary Ralph G. Recto said the Philippines could consider accommodating zero tariffs on certain American goods entering the local market as President Ferdinand Marcos Jr.'s economic managers prefer more free trade agreements (FTAs)—including with the United States (US) after the recent tariff hike.

- BY DERCO ROSAL

"Yes, definitely," was Recto's response to reporters last week when asked if Manila is open to imposing zero tariffs on US products being imported into the Philippines.

But he clarified that this could not apply to all products from the US: "We have identified a set of products." Particular details regarding this were not disclosed by the Finance chief.

In return, eliminating tariffs on Philippine-made semiconductors, which are among the country's top exports to America, are also being eyed.