DA cautiously assesses new US-PH trade deal impact

The Department of Agriculture (DA) is cautiously assessing the new US-Philippines trade agreement, with Secretary Francisco Tiu Laurel Jr. stating it is "too early to assess" its impact on local agricultural exports and producers.

The agreement involves the Philippines removing tariffs on US goods, while Philippine exports to the US will be subject to a 19 percent tariff, a slight increase from initial proposals and higher than the original 17% rate mentioned earlier this month.

President Ferdinand Marcos Jr. clarified that not all US goods entering the Philippines will receive zero tariffs.

A key concern for the DA is the potential effect of zero-tariff imports of US agricultural products, particularly feed grains and cereals, on domestic producers.

While reduced import costs could benefit livestock and poultry industries, the DA is assessing the risk of local corn farmers being displaced.

The DA plans to observe import volumes and price changes to gauge the actual market impact once the trade deal is in effect.