MANILA, Philippines — Philippine officials will head to the United States next week to discuss the recently imposed 20 percent tariff on Philippine exports — a rate higher than the 17 percent earlier announced in April — and set to take effect on August 1, 2025.

Trade Secretary Cristina Roque confirmed in a Thursday briefing that she has yet to meet with fellow trade and economic officials to finalize the country’s negotiating position. She declined to disclose further details, citing the need for internal discussions after the US government formally notified them of the updated tariff rate only earlier that day.

“Even the US is open for negotiation, so let’s see what happens when we get there. And let’s see what will happen when we convene,” Roque said. “As we mentioned in our statement, the 20 percent rate is the second lowest. But we will have to talk about it.”

The Department of Trade and Industry (DTI) expressed concern over the increased tariff, calling it disappointing “notwithstanding our efforts and constant engagement.”

Despite the setback, the DTI emphasized that the government remains open to continued discussions. “We remain committed to continuing negotiations in good faith to pursue a better and more comprehensive bilateral trade agreement,” the department said.

The DTI acknowledged Washington’s intent to address trade imbalances and bolster its domestic manufacturing, but warned that such unilateral actions could have ripple effects on the global economy.

“Global supply chains are deeply interconnected, and unilateral trade impositions will have adverse effects to the global economy. Thus, we believe in the need for constructive engagements to address trade issues,” the DTI added.

Talks with the US next week will be closely watched as Manila aims to secure improved trade conditions for its export sectors amid rising global protectionism. (PNA)

Leave a comment

Trending