Manila to press US for tariff rollback

THE PRESIDENTIAL PALACE on Thursday raised alarm over the US decision to increase tariffs on Philippine exports to 20%, as a high-level delegation prepares to fly to Washington next week to seek adjustments.

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The Philippine Exporters Confederation, Inc. (Philexport) also expressed concern about the country's shrinking trade leverage with the US after US President Donald J. Trump's move to hike tariffs from the “Liberation Day” rate of 17%.

“We are concerned that, notwithstanding our efforts and constant engagements, the US still decided to impose a 20% tariff on Philippine exports,” the Trade department said in a separate statement.

Still, Frederick D. Go, special assistant to the President for investment and economic affairs, said the new tariff remains the “second lowest” among Association of Southeast Asian Nations (ASEAN) member states, next to Singapore's 10%.

Mr. Trump first announced the sweeping tariff changes on April 2 — dubbed “Liberation Day” — and implemented a 90-day pause that ended on July 9.

The US President said in posts on his Truth Social media platform that starting Aug. 1, he would impose a 20% tariff on goods from the Philippines, 30% on goods from Sri Lanka, Algeria, Iraq, and Libya, and 25% on Brunei and Moldova.

Mr. Go said the Philippine government is pursuing further negotiations.

“We remain committed to continuing negotiations with the United States in good faith to pursue a bilateral comprehensive economic agreement or, if possible, a free trade agreement,” he told a news briefing.

The delegation composed of Mr. Go, Trade Secretary Ma. Cristina A. Roque, Trade Undersecretary Ceferino S. Rodolfo and Trade Undersecretary Allan B. Gepty is scheduled to visit Washington from July 14 to 18.

“The economic team and the Department of Trade and Industry will continue to advance key economic reforms to sustain a competitive and investor-friendly business environment,” Mr. Go said, citing the need to build more global trade ties.