PH agri, manufacturing sectors excluded from US trade concessions

The Philippines' agricultural and manufacturing sectors will not be included in recent trade concessions granted to the United States, according to the Department of Trade and Industry (DTI) and Malacañang's economic czar.

This decision comes after a trade deal was struck by President Ferdinand Marcos Jr. and US President Donald Trump, which involves reciprocal tariffs.

Under the agreement, certain US imports like automobiles will face zero tariffs, while Philippine exports to the US will see a reduction from a 20 percent tariff to 19 percent.

Secretary Frederick Go stated that the concessions extended to the US are strategic, focusing on products not locally produced and critical for reducing costs in sectors like healthcare.

The Philippine Chamber of Agriculture and Food Inc. (PCAFI) welcomed the government's move not to give zero duties for American agri-fisheries, commending the protection of critical local agriculture industries.

PCAFI specifically noted that vital agricultural industries such as sugar, corn, rice, chicken, pork, and seafood were kept protected and were not part of the concessions.

However, the Philippines will increase its imports of soy products, wheat products, and medicines from the US, which is expected to lead to lower prices for consumers.