Philippines ready for tariff talks with US this week

The Philippine government is hopeful that it can still negotiate for a lower US tariff rate ahead of the Aug. 1 deadline as President Ferdinand R. Marcos, Jr. heads to the US next week.

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At the same time, analysts said the Philippines may consider increasing import quotas for US pork, poultry and corn during negotiations.

“Actually, with the 20%, we are still lower than the neighboring countries. It is not something that we expected, but we are still at the negotiating table,” said Trade Secretary Ma. Cristina A. Roque in a July 11 interview that will be aired on Thought Leaders with Cathy Yang on One News on July 17.

“It is hard for us to speculate at this time. We cannot give any information yet because there’s really nothing yet until we get to talk to our counterparts,” she added.

Ms. Roque and other trade officials will return to Washington this week to hold further negotiations on tariffs. Mr. Marcos is scheduled to visit Washington from July 20 to 22.

This after US President Donald J. Trump hiked the planned tariff on Philippine goods to 20% from the 17% previously announced in April.

“Having the president there is always something positive and something that we can really look forward to... We still have to wait and see how everything will unfold,” Ms. Roque said.

Asked if the Philippine government is still targeting zero tariff, Ms. Roque said it is difficult to discuss ahead of this week’s negotiations.

“Our team is really fighting for all our exporters, and we really hope to get the job done.”

Ms. Roque said, “everything is on the negotiating table,” including a free trade agreement (FTA) with the US.

“Any FTA is always good for the country, especially because it would really encourage and strengthen the trade between the US and the Philippines,” she said.

HIGHER QUOTAS?

Former Tariff Commissioner George N. Manzano said the US may ask the Philippines to raise quota allocations for pork and poultry imports.