Philippine trade officials to negotiate US tariffs next week

Philippine trade officials will travel to the United States next week to negotiate a higher-than-expected 20% tariff imposed by the US on Philippine exports and pursue a bilateral comprehensive economic agreement.

Trade Secretary Cristina Roque, along with other Department of Trade and Industry (DTI) officials led by Frederick Go, special assistant to President Marcos for investment and economic affairs, will meet with US counterparts from July 14 to July 18.

Roque emphasized that while the tariff rate is higher than initially expected at 17%, it remains second-lowest in the region compared to Singapore's 10% tariff.

The delegation noted their concern over the newly imposed tariffs but highlighted that semiconductor and electronics exports are exempted from these new rates, which will take effect on Aug. 1.

US goods trade with the Philippines was valued at $23.5 billion in 2024, with US exports to the Philippines increasing by 0.4% year-over-year while imports from the Philippines grew by 6.9%. The tariff rate will be effective starting Aug. 1, 2025.

The DTI remains committed to continuing negotiations in good faith and believes that constructive engagements are necessary to address trade issues.