MANILA, Philippines — Despite the Philippines benefiting from one of the lowest tariffs in Asia, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go acknowledged that the 17 percent tariff imposed by the United States could still have a slight impact on the country’s economy over the next two years.

In a briefing with reporters, Go explained that the Philippines’ 17 percent tariff is relatively low compared to other Asian nations, with Singapore being the only country with a lower rate at 10 percent. 

“Malinaw na malinaw… medyo advantage po ang Pilipinas nang kaunti,” Go said, noting that many Asian countries face tariffs starting at 40 percent or higher.

However, Go pointed out that even with the relatively lower tariff, the 17 percent rate could still affect certain industries in the Philippines. He cited estimates from the National Economic and Development Authority (NEDA), which forecast a potential 0.1 percent reduction in the country’s GDP over the next two years. 

“May konting effect po ito,” he said, acknowledging the modest economic slowdown expected from the tariff.

At the same time, Go revealed that the Philippine government has reached out to the United States Trade Representative (USTR) to discuss the tariffs and request a meeting to negotiate solutions. 

“We have communicated with them our desire to engage in a meeting or dialogue,” Go said, adding that he plans to travel to the U.S. for these talks soon.

When asked if the Philippines would appeal to the U.S. to remove the tariffs, Go clarified that the goal is not to appeal, but to engage in constructive negotiations. 

“The best possible outcome is a free trade agreement,” Go said, saying that such an agreement would eliminate tariffs on both sides.