DTI moves to shield exporters from full brunt of US tariffs

MANILA, Philippines — The Department of Trade and Industry (DTI) is doubling down on efforts to help exporters, with the full impact of the 19-percent reciprocal tariff imposed by the United States on Philippine goods expected to be seen in the August export data.

“As Philippine exporters brace for the impact of the new 19-percent tariff imposed by the US, the DTI is intensifying its support programs to help businesses stay competitive and find new markets,” Trade Secretary Cristina Roque said in a Viber message to reporters.

She said the surge in Philippine exports to the US in recent months was largely driven by frontloading activities or accelerated shipments ahead of the implementation of the reciprocal tariff by the US, which took effect on Aug. 7.

“This strategic move by exporters was aimed to mitigate the immediate impact of the tariff hike,” she said.

The US remained the country’s top export destination in July with a 16-percent share amounting to $1.16 billion.

“We anticipate that the full effect of the tariff will begin to reflect in the August export data onwards,” Roque said.

In preparation for the full effect of the reciprocal tariff, she said the DTI is helping exporters connect with buyers through business matching activities and providing hands-on assistance with export documents and customs procedures.

DTI-Export Marketing Bureau director Bianca Pearl Sykimte said exporters are also being encouraged to look beyond the country’s top exporters and to diversify markets.

“Beyond our traditional partners, we are actively pursuing growth in Europe, ASEAN and the Middle East,” Sykimte said.

She said the DTI is also helping exporters seize opportunities in new markets through targeted trade promotions, business-matching programs and platforms like the business-to-business directory PHX Source and the free trade agreement integrated portal.

Roque said firms could also apply for certification under the CREATE MORE Act to enjoy incentives.

Earlier, Roque said the DTI is looking to establish a loan facility to support exporters affected by the US reciprocal tariff.

The loan facility for exporters is expected to be made available under the DTI’s financing arm Small Business Corp. within the year.