Marcos, Trump meet; US cuts tariffs on Philippine goods

Philippine President Ferdinand Marcos Jr. visited the White House on Tuesday, July 22, where he met with US President Donald Trump to discuss trade and defense issues.

During their meeting, Trump announced a reduction in tariffs on Philippine goods from previously threatened levels of 20 percent to 19 percent; Marcos called this 'a significant achievement', while Manila agreed to open its market to Washington with zero tariffs for certain products such as automobiles.

Philippine Ambassador to the US Jose Manuel Romualdez clarified that ongoing negotiations might impose duties on other US products coming into the Philippines, emphasizing flexibility in tariff arrangements.

Trade Secretary Cristina Roque highlighted that even though exports will face a 19 percent tariff and US imports like medical equipment, automotive, and soy will have zero tariffs, agricultural products such as rice and sugar are excluded to protect domestic industries.

The Philippine Chamber of Commerce and Industry (PCCI) welcomed the negotiated reduction in tariff rate but noted it may not significantly impact export volumes due to broader economic factors; PCCI urged for deeper negotiations on non-tariff barriers and domestic reforms to enhance trade competitiveness.