Philippine News Agency
PH backs ASEAN's non-retaliatory stance on US tariffs
The Philippine government, through the Department of Trade and Industry (DTI), has expressed its support for a unified ASEAN response to US President Donald Trump's export tariffs but will not engage in trade retaliation.
Trade and Industry Secretary Ma. Cristina Roque emphasized a proactive approach, stating that the Philippines does not plan to retaliate against the US tariffs.
This stance was reaffirmed during a virtual ASEAN Economic Ministers (AEM) Special Meeting, where ASEAN committed to not impose retaliatory measures.
Roque highlighted the necessity for a comprehensive impact assessment to understand the consequences of the tariffs on ASEAN member states.
She added that ASEAN needs to formulate effective mitigation strategies to protect member states' interests and maintain investor confidence.
The administration also aims to strengthen ties with the US through proactive engagement and enhanced cooperation platforms like the Trade and Investment Facilitation Agreement (TIFA) and the Expanded Economic Engagement (E3) Workplan.
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Trade ministers of the Association of Southeast Asian Nations (ASEAN) convened virtually on April 10 to discuss a united response to reciprocal tariffs imposed by US President Donald Trump.
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