In response to the Trump administration’s sweeping tariffs, including a 17% levy on Philippine goods, the Philippines is considering reducing tariffs on US products, according to Trade Secretary Cristina Roque, as per Bloomberg.
The Philippines is also exploring the possibility of joining a collective response to the US tariffs alongside other member states of the Association of Southeast Asian Nations (ASEAN), Roque added.
This marks the first indication of a potential compromise from Manila following President Trump’s announcement of higher tariffs, which have disrupted global markets and fueled concerns about a potential global recession.
Previously, on April 4, Roque stated that the Philippines planned to leverage its relatively lower tariffs compared to its Asian neighbors and increase shipments of semiconductors, coconut products, and mango products to the United States. Finance Secretary Ralph Recto also suggested last week that the Philippines could increase its market share in US garment exports, as major competitors such as China, Bangladesh, Vietnam, Mexico, and India face higher tariffs.
Roque reiterated on Monday that she has expressed her desire to meet with her US counterpart and is awaiting confirmation of a meeting schedule.
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