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The Philippines is eyeing the reduction of tariffs on products from the United States (US) in a bid to reverse US President Donald Trump’s imposition of 17-percent tariffs on Philippine imported goods, according to Trade Secretary Cristina Roque.
“Definitely, of course, definitely,” Roque told reporters on Monday, April 7, when asked about the government’s response to US tariffs.
“We are really going to do that,” she stressed.
During his so-called “Liberation Day,” Trump announced a 10-percent baseline tariff on all imports into the US, with higher reciprocal tariffs on countries with which America has a trade deficit.
Based on the list of reciprocal tariffs released by the White House, the Philippines will be slapped with a 17-percent “discounted reciprocal tariff.”
This was meant to serve as the US’ response to the Philippines’ charge of a 34-percent tariff on American goods.
Roque said she will soon meet with the government’s economic managers regarding this planned tariff reduction.
She added that she will also meet with officials from the US government “within a few days.”
The Trade Secretary noted that the Philippines is also looking to participate in the planned collective response by the Association of Southeast Asian Nations (ASEAN) on US tariffs.
While there has still been no concrete response from the Marcos administration, Roque said talks are ongoing.
Malaysian Prime Minister Anwar Ibrahim earlier called on ASEAN to take a united stance against Trump’s sweeping tariffs.
A number of countries belonging to the 10-member coalition were among the hardest hit by US tariffs.
Cambodia is facing a region-high 49-percent tariff; Laos and Vietnam follow suit with 47 percent and 46 percent, respectively.
Malaysia is this year’s rotating chair of ASEAN.
