Donald J. Trump
welcomes
Philippine President Ferdinand
R. Marcos, Jr.
at the White House in Washington, DC, US, July 22. — REUTERS/KENT NISHIMURA
THE PHILIPPINES will no longer be sending a delegation to the US to further reduce the 19% tariff imposed on Philippine exports, but will continue negotiations online, as Washington’s Aug. 1 deadline approaches, the Special Assistant to the President for Investment and Economic Affairs said on Monday.
“We stay in Asia, but you know, it’s through electronic communication,” Secretary Frederick D. Go told reporters on the sidelines of President Ferdinand R. Marcos, Jr.’s fourth State of the Nation Address (SONA).
The US last week lowered its “reciprocal” tariffs against Philippine exports following a meeting between Mr. Marcos and American President Donald J. Trump at the White House. The new rate is still higher than the initial 17% rate announced during “Liberation Day” last April.
Meanwhile, Trade Secretary Ma. Cristina A. Roque said that the Philippines is still hoping for a lower tariff than the 19% imposed by the United States, as it looks to finalize negotiations before the Aug. 1 deadline.
“If we can go lowest that we can go that would be best,” Ms. Roque told BusinessWorld. “Of course, we are trying to do everything we can to put (the tariffs) down, but in the end it’s really the US who will decide.”
“But I can’t really discuss much because we signed a (non-disclosure agreement) and we’re just really waiting for the negotiations to finish by Aug. 1,” she added.
Ms. Roque said that the Trade department is still studying which US industries will be imposed with zero tariffs.
“For us, we just have to really give what we can give, because there are some industries that we cannot give to,” she added.
Ms. Roque earlier said Manila will not compromise sensitive sectors such as rice, sugar, pork, chicken, corn, and fisheries in the ongoing negotiations, which are still under review.
The updated tariff rate puts the Philippines at a similar position to Indonesia and marginally ahead of Vietnam, which faces a 20% rate. Singapore maintains a preferential 10% rate. — Chloe Mari A. Hufana and Adrian H. Halili