Pangilinan: Zero tariff rate on US goods alarming for PH agricultural sector
At A Glance
- Sen. Francis "Kiko" Pangilinan said the new trade policies and agreements must come with clear safeguards to ensure local livelihoods will still thrive.
Senator Francis "Kiko" Pangilinan said the reported outcome of the Philippine-United States trade deal that would impose a zero tariff rate for US goods entering the Philippines will have a negative impact on the country’s agricultural production and the livelihoods of farmers and fisherfolk.
Pangilinan said he is alarmed over the 19% to zero percent tariff rate approved between President Donald Trump and President Ferdinand “Bongbong” Marcos Jr. and called on Malacañang to be transparent about the new trade deal.
The senator urged the Palace to specifically disclose the agricultural products that will be under the coverage of the new trade policy.
“While we understand the need for economic stability, it should not come at the price of the livelihoods of our agricultural workers,” Pangilinan said.
“If implemented without careful consideration, a zero tariff policy will disadvantage our farmers and fisherfolk, and put in peril our work toward food security and national development,” he said.
Marcos had clarified though that the zero tariffs would only be applied on certain products, particularly automobiles; but he also admitted that the Philippines will increase its importation of some US goods, like soy and wheat products, and medicine.
Pangilinan said the new trade policies and agreements must come with clear safeguards to ensure local livelihoods will still thrive.
“Our farmers need support, not setbacks. They need us to protect them, rather than put their livelihoods at risk,” the senator stressed.