The Philippines stands to gain a slight advantage over its Asian neighbors despite the new reciprocal tariffs imposed by the United States, a Palace official said on Thursday, April 10.

Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go said this after the US imposed a 17-percent tariff on Philippine exports to the US.

In a press briefing in Malacañan, Go said the only country with a tariff lower than the Philippines is Singapore, which faces a 10-percent rate.

"Kapag nilista ninyo po lahat ng Asian countries, makikita ninyo po na ang pinakamataas na tariff ay nag-uumpisa sa mga 54 percent pababa ng 40-plus percent, 30-plus percent, 20-plus percent at ang Pilipinas ay second to the lowest po, at 17 percent (If you list all the Asian countries, you’ll see the highest tariffs start from 54 percent down to 40-plus percent, 30-plus percent, 20-plus percent, and the Philippines is second to the lowest, at 17 percent)," he said.

So kapag tiningnan ninyo po iyon, in-analyze ninyo po ay medyo mukhang maganda po para sa Pilipinas, may konti po tayong advantage (So if you look at it and analyze it, it seems to be good for the Philippines, we have a bit of an advantage)," he added.

According to Go, President Marcos convened his economic team for a meeting on Tuesday to assess the potential impact of the US tariffs.

During the meeting, they discussed the global scope of the tariff changes and how they could affect various industries in the Philippines.

Go said that based on initial assessments by the National Economic and Development Authority (NEDA), the impact of the US tariff on the country's gross domestic product (GDP) would be minimal.

“Based on the NEDA estimates, posibleng may effect po ‘to ng 0.1 percent sa ating (this could have a 0.1 percent effect on our) GDP in the next two years,” he said.

He also pointed out that businesses in the country remain flexible and capable of adjusting to market shifts.

"Businesses are generally quite resilient – kung magsara ang isang market, naghahanap po sila ng ibang market na mao-open (if one market closes, they look for another one that opens),” he said.

Free trade deal with US

Meanwhile, Go revealed that the Philippine government has initiated talks with the United States Trade Representative (USTR) to explore long-term solutions.

"So, we’ve reached out to the USTR and we have communicated with them our desire to engage in a meeting or dialogue with them, and they have positively responded," he said.

He confirmed that he would "schedule a trip" to the US to meet with the USTR soon.

Asked whether the Philippines would appeal for exclusion from the tariffs, Go clarified the government's approach.

"I think the keywords are probably not appeal, this is a negotiation," he said.

"In my opinion, the best possible outcome is a free trade agreement—free trade agreement means, zero tariffs on their side, zero tariffs on our side," he added.

Go said that such discussions must remain open, constructive, and rooted in mutual benefit.

"It’s open communication, dialogue, cooperation and let’s see what we can negotiate," he said.