More PH-US meetings set during 90-day freeze on tariffs
Trade Secretary Ma. Cristina Roque on Monday said the Philippines will hold more meetings with United States officials to advance tariff negotiations, suggesting that discussions could extend throughout the 90-day pause of Trump’s planned trade measure.
“The negotiation is a process. Not a one-time meeting. We believe the meeting went very well and our points were well received,” Roque told reporters without providing more details.
Roque, alongside Secretary Frederick Go of the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), met with United States Trade Representative (USTR) Jamieson Greer on May 2 in Washington to hold crucial discussions on tariffs.
Over the weekend, Go described the talks as “very successful,” emphasizing that the interests of local industries were central to the discussions.
“We made sure to put the welfare of Philippine local industries at the center of our negotiations. We are hopeful that these discussions mark the beginning of a process toward arrangements from both sides that will not only strengthen US-Philippines trade ties but also help diversify our country’s export markets,” Go said in a statement.
On April 2, Trump announced a new set of tariffs targeting countries trading with the United States, including a 17-percent rate on Philippine exports, which was initially set to take effect on April 9.
However, he later declared a temporary suspension of the measure on its scheduled implementation date, opting instead for a 10-percent baseline tariff to remain in place during the period.
Exporters optimistic
While exporters in the Philippines have raised concerns about the measure, they remain largely optimistic due to the lower rate applied to Philippine exports.
The newly imposed US tariff on Philippine exports is comparatively lower than those levied on several of the country’s neighbors in the Association of Southeast Asian Nations.
Cambodia faces the highest tariff at 49 percent, followed by Vietnam at 46 percent, Thailand at 36 percent, Indonesia at 32 percent, and Malaysia at 24 percent.
This puts the Philippines in a more favorable position compared to its neighbors.
The only exception within the region is Singapore, which will be subject to a tariff rate of 10 percent
According to the USTR, trade in goods between the Philippines and the United States reached approximately $23.5 billion in 2024.
US exports to the Philippines totaled $9.3 billion, indicating a modest increase of 0.4 percent, or $38.8 million, from 2023.
