Malacañang optimistic on US-Philippines trade talks

Malacañang expressed optimism on Tuesday that ongoing negotiations between the Philippines and the United States regarding the paused 17-percent reciprocal tariff on Philippine exports would yield a positive outcome.

Palace Press Officer Claire Castro said during a briefing that both countries have agreed to cooperate for economic development in the Philippines, expressing confidence in the current trade deal negotiations.

US President Donald J. Trump sent out tariff letters to several Southeast Asian nations including the Philippines, announcing their rates on social media, but did not specify the exact rate for the Philippines.

Trade negotiators are bound by a confidentiality agreement and there are no updates as yet with negotiations still ongoing according to Secretary Frederick D. Go.

Vietnam has since been assigned a 20% tariff rate after concluding a trade deal with the US, raising concerns that Philippine exports may struggle if the US restores its 17% reciprocal tariff rate.

President Ferdinand 'Bongbong' Marcos Jr. expressed support for ASEAN's non-retaliatory measures in response to recent shifts in the United States' tariff policy, emphasizing that unexpected trade barriers could disrupt communities and supply chains.