Tariff negotiations with US ‘not finished,' says Philippines
President Ferdinand Marcos returned to Manila late Wednesday following a three-day trip to Washington, where he secured a modest reduction in tariffs on Filipino goods — from 20 percent to 19 percent — after meeting with US President Donald Trump. While some critics questioned the limited scope of the concession, Marcos insisted it was a 'significant achievement.'
The US president, meanwhile, highlighted 'zero tariffs' on American goods heading to the Philippines, raising further scrutiny in Manila over the perceived imbalance.
However, Marcos's economic adviser, Frederick Go, said Thursday that not all tariffs would be removed and that further talks were ongoing. 'The negotiations are not yet finished. Our technical working groups will continue to work with their counterparts from America to finalize the details of this arrangement,' he told reporters. 'There are still many things to be discussed.'
The Marcos administration has sought to calm public concern, noting that just 16 percent of Philippine exports go to the United States, and that nearly two-thirds of those are electronic components not subject to tariffs.
Go added that while some agricultural imports — such as soy and wheat — would benefit from tariff cuts, staple commodities like sugar, corn, rice, fish, and pork would remain protected to safeguard Filipino farmers.
'I can guarantee to you we studied our biggest industries in the country where we are a significant market producer. We didn't include those in our arrangements with the United States,' he said.
Go also emphasized the consumer benefits of tariff removal in sectors such as pharmaceuticals. 'Medicines are expensive in the Philippines. If they are tariff-free, then that can lower the price of medicine in our country,' he said.
Jesus Felipe, an economics professor at Manila's De La Salle University, told AFP that the number of Philippine exports affected by the full 19 percent tariff would likely be low. 'That's the number that has been flagged, but our feeling is that many products — a substantial share of Philippine exports to the US — will have to be exempted.'
While he predicted little to no effect on Philippine GDP, Felipe said the US approach reflected an 'imperialist attitude' toward smaller trading partners. 'Countries with far larger US trade deficits like China, Mexico, and Canada have much more power and leverage to fight back,' he said. 'The Philippines cannot retaliate.'
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