DTI sees gains from Trump tariffs

The Philippines is keen on taking advantage of “strategic opportunities” resulting from the imposition of 17-percent reciprocal tariffs on Philippine imports by the United States (US).

- By DEXTER BARRO II, GABRIELL CHRIELLE GALANG and DERCO ROSAL

In a statement on Thursday, April 3, Department of Trade and Industry (DTI) Secretary Cristina Roque said the agency is currently monitoring and assessing the potential impact of the tariffs on the country’s economy.

Roque noted that, based on initial analysis, the direct impact is significantly less substantial compared to neighboring countries in the Association of Southeast Asian Nations (ASEAN).

Based on the list of reciprocal tariffs released by the White House on X (formerly Twitter), Cambodia was the hardest hit country in ASEAN, facing a 49-percent tariff during the so-called “Liberation Day” by US President Donald Trump.

Vietnam, which is steadily rising as an influential force in trade, was slapped with 46 percent.

Thailand (36 percent), Indonesia (32 percent), and Malaysia (24 percent) also faced higher tariffs compared to the Philippines.

Singapore, which has a trade surplus with the US, as the sole ASEAN member to meet the 10-percent baseline tariff.

The DTI chief said the imposition of a relatively low tariff on the Philippines has been expected, given its minimal trade deficit with American goods.

Based on data from the Office of the US Trade Representative (USTR), trade with the Philippines reached $23.5 billion last year, with a trade deficit of $4.9 billion.

In light of higher tariffs on neighboring countries, Roque said this places the Philippines in a better position in the region.

“The task at hand right now for DTI and other government agencies is how to act fast and take advantage of this new development,” she said.