DTI maintains 'business-as-usual' amid US tariff suspension

Department of Trade and Industry (DTI) Secretary Cristina Roque stated that the Philippines will maintain a 'business-as-usual' approach while awaiting potential changes to US tariffs following their temporary suspension.

The US imposed a 17-percent tariff on Philippine goods as part of reciprocal trade measures, but paused these higher tariffs for 75 days starting April 2, with a blanket 10% duty applied until July.

Roque confirmed plans to meet with the US Department of Commerce before the deadline to discuss potential tariff rates and negotiate beneficial terms, emphasizing that semiconductor exports are currently exempt from local tariffs.

With three months left until negotiations resume, the Philippines hopes to secure favorable conditions similar to its relatively low initial tariff rate compared to other ASEAN countries, while also benefiting from opportunities for trade relocation from high-tariff nations.

The Philippine government will continue normal operations for now, with exports to the US valued at $986.84 million in February, and electronic products including semiconductors leading as top exports.