US Edition
Philippines Hopes to Further Lower Tariff Rate to Around 15%, Says Ambassador to US
PHILIPPINES, JUL 24 – President Marcos secured over $21 billion in US investment pledges while tariff talks continue to protect key Philippine agricultural sectors and address trade imbalances.
- In Manila, Philippines, the Marcos administration announced that core negotiations remain unresolved, underscoring ongoing discussions with US counterparts.
- Driven by a 10% trade deficit, Manila seeks to replace elements of the 2019 trade deal, raising the stakes given a 10% US-Philippines trade deficit.
- While detailing sector coverage, Frederick Go detailed that some agricultural levies will be removed while core sectors remain shielded, and Donald Trump touted “zero tariffs” on US exports.
- President Marcos announced over $21 billion in investment pledges, while Trade Secretary Alfredo Pascual emphasized that tariffs protect 1.2 million workers.
- With a deadline set for Aug. 1, Philippine Ambassador to the US Jose Manuel Romualdez said technical working groups will continue talks with their American counterparts, and negotiators have until then to finalize the arrangement.
17 Articles
17 Articles
Channel News Asia
sgtalk.netPhilippines hopes to further lower tariff rate to around 15%, says ambassador to US
The new 19 per cent tariff announced on Tuesday is just below the 20 per cent threatened by US President Trump earlier this month, but still above the 17 per cent rate set in April.
19% tariff set by US not final, still under negotiation
MANILA, Philippines — The 19-percent tariff imposed on Philippine exports to the United States is only provisional and may go even lower depending on how the next stage of negotiations will turn out, according to Philippine Ambassador to the US Jose Manuel Romualdez. In a radio interview with dzRH on Thursday, Romualdez said the matter may still be subject to adjustment before the US reciprocal tariffs are enforced on Aug. 1. “This 19 percent t…
Tariff talks with US not yet finished – officials
Amid criticisms of the minimal reduction in the tariff slapped by the US on Philippine exports and concerns on the impact of zero tariff on US products, the Marcos administration said yesterday that the trade talks between Manila and Washington are not yet over.
Radio France Internationale
Tariff negotiations with US 'not finished', says Philippines
Negotiations over the Philippines' new 19 percent US tariff rate are "not finished", a key government economic adviser said Thursday, tamping down fears over the deal's potential impact on the agriculture…
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