Trump tariffs may be favorable to PH agri exporters – DA chief

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Philippines and Singapore get relatively lower tariffs compared to other Asian nations, following US President Donald Trump's sweeping imposition of 10% baseline tariff on all countries

MANILA, Philippines — Agriculture Secretary Francisco Tiu Laurel Jr. said on Thursday, April 3, that the United States’ imposition of sweeping global tariffs may give Philippine agricultural products an edge over neighboring countries’ exports to the US market.

“Base sa nakita kong tariff rates, tayo ‘yung pinakamababa — isa sa pinakamababa among our neighbors,” Tiu Laurel said in a press briefing. (Based on the tariff rates I saw, we have the lowest — one of the lowest rates among our neighbors.)

“So it just means that we should push for more sales into the US from our products,” he added.

US President Donald Trump imposed a 17% tariff on products coming from the Philippines, as part of the 10% baseline tariff he imposed on all countries Wednesday, April 2.

The Trump administration hopes to address the “decline of US manufacturing capacity,” among others issues, with its new tariff policy.

Tiu Laurel cited tilapia exports to the US as an example, saying the Philippines has an advantage over Vietnam and Thailand, where tilapia exporters will now face higher tariffs than those from the Philippines. The US imports most of their tilapia supply from China.

Trump slapped a 46% tariff on Vietnam, 32% on Indonesia, 34% on China, 36% on Thailand, and 49% on Cambodia. The US imposed a 24% tariff on Malaysia and Japan. Singapore has a lower tariff rate at 10%.

Among the Philippines’ agricultural exports to the US are coconut oil, tuna, seaweed. Meanwhile, some commodities the Philippines imports from the US are soybean and dairy products, wheat, pork, and poultry meat.

However, Tiu Laurel said the Department of Agriculture will have to review the new US tariff policy as its impact is dependent on the affected commodity.

Tariffs are taxes on imported goods. Higher tariffs can discourage the entry of goods from other countries. These could also drive prices higher, which will eventually be carried by consumers. – Rappler.com