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Manila Bulletin devider Business devider Trade & Industry devider Philippines open to zero tariffs on 'a set' of US goods—DOF

Philippines open to zero tariffs on 'a set' of US goods—DOF

Published Jul 21, 2025 12:00 am  |  Updated Jul 19, 2025 04:38 pm
President Marcos and US President Donald Trump
President Marcos and US President Donald Trump
Finance Secretary Ralph G. Recto said the Philippines could consider accommodating zero tariffs on certain American goods entering the local market as President Ferdinand Marcos Jr.’s economic managers prefer more free trade agreements (FTAs)—including with the United States (US) after the recent tariff hike.
“Yes, definitely,” was Recto’s response to reporters last week when asked if the country is open to imposing zero tariffs on US products being imported into the Philippines.
But he clarified that this could not apply to all products from the US: “We have identified a set of products.” Particular details regarding this were not disclosed by the Finance chief.
In return, eliminating tariffs on Philippine-made semiconductors, which are among the country’s top exports to America, are also being eyed.
“We want to reduce whatever duties they impose on our products. If possible, we want zero tariffs on those,” Recto said.
According to Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Frederick Go, a huge portion of Philippine semiconductors and electronics exports remains “exempted from the reciprocal tariffs.”
Recto argued that Philippine exports being slapped with a higher 20-percent US tariff formed part of the trade negotiation. He told reporters that he was not at all shocked when US President Donald Trump hiked the duties levied on imports from the Philippines.
“I’m not shocked by this. It’s part of the negotiation. That’s just a negotiating posture,” Recto said.
Recto added that the Philippine government prefers pursuing FTAs with the US and other trading partners.
“We prefer [an FTA with the US]. We want to have an FTA not only with the US but with Europe and many other countries. More trade should be done. We have to expand our markets. Get more investments in manufacturing so that we can export more,” Recto said.
President Marcos was scheduled to meet with Trump on July 20 to 22, with the tariffs likely the centerpiece of the meeting.
Whatever the final tariff deal may be, Recto assured that the Philippines could manage any potential losses.
“We’ve calculated that and given our input to Secretary [Go] on what we can negotiate. All of that has been computed, and it’s safe to say that we’re okay in terms of losses,” Recto said.

Related Tags

Department of Finance (DOF) Ralph G. Recto Frederick Go Donald Trump reciprocal tariffs Ferdinand Marcos Jr.
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