The Daily Tribune
U.S. goods getting zero tariff mulled
Finance Secretary Ralph Recto stated that the Philippines is open to lowering tariffs on some US products as a negotiation tactic to secure reciprocal zero or lower tariffs from the US.
This move aims to mitigate the impact of a proposed 20 percent US tariff on Philippine exports.
Recto mentioned that a set of specific products has been identified for potential tariff reduction on the US side.
He assured that the potential revenue loss from lowering tariffs on US goods has been calculated and is deemed manageable for the country.
The Philippines is also pursuing a potential free trade agreement with the US and other nations.
Latest data indicates that the United States accounted for USD 1.115 billion or 15.3 percent of the Philippines' total exports in May 2025.
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Filipino lawmakers have expressed concerns over a new trade agreement with the United States, finalized during President Ferdinand Marcos Jr.'s visit.
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