Inquirer
Malacañang says 17% tariff from US on PH goods has ‘minimal impact’
Malacañang stated that the 17% reciprocal tariff imposed by the US government on Philippine exports will have a minimal impact on the country.
Palace Press Officer Claire Castro described the tariff as "good news" because it is among the lowest globally, with many other countries facing significantly higher tariffs.
She claimed that a lower tariff may encourage other countries to invest and manufacture in the Philippines instead.
However, Fitch Ratings head of US Olu Sonola warned that Trump's imposed tariffs may push other countries into a recession.
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News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
US President Donald Trump announced a 17% reciprocal tariff on all Philippine goods, effective April 9, as part of his "Liberation Day" tariff plan impacting 11 ASEAN countries.
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Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go will travel to the United States to meet with US Trade Representative Jamieson Greer regarding President Donald Trump's announced 17% reciprocal tariff on Philippine goods.
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The Philippine government's economic team, specifically the National Economic and Development Authority (NEDA), estimates that US reciprocal tariffs of 17% on Philippine exports could reduce the country's gross domestic product (GDP) by 0.1% in the next two years.
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Senate President Francis Escudero urged economic managers to prepare contingency plans for the new 17 percent US tariff on Philippine exports, set to take effect on April 9, 2025.
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The Philippine Economic Zone Authority (PEZA) views the US's new 17% tariff on Philippine goods as a potential opportunity for increased trade and investment, seeing it as a chance to strengthen economic ties.
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