Tariff talks with US ‘went very well’ – Go

MANILA, Philippines — The Philippine government remains hopeful of working out a mutually beneficial arrangement with the United States to strengthen trade ties, following recent discussions on reciprocal tariffs.

In a statement yesterday, Special Assistant to the President for Investment and Economic Affairs Frederick Go, who led the Philippine delegation to Washington, said the talks “went very well,” with the interests of local industries put forward during 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,” he said.

Apart from Go, the Philippine delegation to the US was composed of Trade Secretary Cristina Roque and Philippine Ambassador to the US Jose Manuel Romualdez.

During the meeting with US Trade Representative (USTR) Jamieson Greer, the Philippines’ delegation presented the opportunities and challenges that the reciprocal tariffs pose for various Philippine export products.

The US imposed a 17 percent tariff on Philippine exports, the second lowest in Southeast Asia.

On April 9, the US announced a 90-day pause on the reciprocal tariffs and brought down the levy to 10 percent for most countries to give time for negotiations.

“Our goal for this meeting is a partnership that benefits both sides and supports the growth of our industries at home,” Go said.

Roque also expressed optimism that the talks would lead to positive results.

“We were able to clearly convey to the USTR our local industries’ requests and concerns and we are hopeful this will yield our desired results,” she said.

Prior to the meeting with the USTR, Roque told reporters that the government would ask the US to lower the reciprocal tariff on Philippine exports to zero.

Last year, the US was the top destination for Philippine exports, accounting for $12.14 billion or 17 percent of the country’s total merchandise exports.