PHL eyes zero tariffs on some US goods

THE PHILIPPINES is open to lowering duties on selected imports from the US to zero as part of tariff negotiations with Washington, Finance Secretary Ralph G. Recto said.

- By Aubrey Rose A. Inosante and Chloe Mari A. Hufana Reporters

When asked whether the government might offer zero tariffs on US goods — similar to Vietnam’s approach, Mr. Recto replied: “Definitely.”

“Not for all products, but we have identified a set of products,” he told reporters last week, without giving details.

This as Philippine President Ferdinand R. Marcos, Jr. on Sunday departed for an official visit to the US, where he is scheduled to meet with US President Donald J. Trump.

Mr. Marcos is expected to bring up the proposed 20% US tariff on Philippine exports during his meeting with Mr. Trump on July 22.

In his departure speech at Villamor Airbase in Pasay City, Mr. Marcos said the Philippines is ready to negotiate a trade deal with the US to drive “strong, mutually beneficial, and future-oriented collaborations” that will support the country’s economic growth.

“My top priority for this visit is to push for greater economic engagement, particularly through trade and investment between the Philippines and the United States,” he said, according to a transcript from his office.

"I intend to convey to President Trump and his Cabinet officials that the Philippines is ready to negotiate a bilateral trade deal that will ensure strong, mutually beneficial, and future-oriented collaborations that only the United States and the Philippines will be able to take advantage of," he added.

Mr. Marcos' visit to the US is the first by a head of state from the Association of Southeast Asian Nations (ASEAN) since Mr.

Trump assumed the presidency in January.

Mr. Marcos emphasized that while defense and security discussions will be tackled during the meeting with Mr. Trump, business and economic opportunities will dominate the agenda.

"I expect to meet with business leaders to explore business opportunities that will help to grow our economy even more," he said.