Despite the United States (US) imposing temporarily suspended tariffs, members of the Marcos Cabinet expressed confidence that trade relations between Manila and Washington will be more robust ahead of their upcoming high-level meeting.
“We are confident that, through our strong economic and diplomatic ties, we can find arrangements that are mutually advantageous,” said Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Secretary Frederick Go in a statement.
Go and Department of Trade and Industry (DTI) Secretary Cristina Roque recently convened consultations with key stakeholders to craft certain “strategic measures” to boost the country’s bilateral trade with the US.
These meetings reportedly brought together key leaders from the export sector, including producers, manufacturers, consolidators, industry associations, and government
officials.
The discussions focused on how the government and the private sector can collaborate to present the Philippines as a “reliable and trusted trading partner.”
“The consultative process has enhanced mutual understanding and alignment on shared goals,” said Roque.
US President Donald Trump earlier ordered a 10-percent baseline tariff on all imports into America, alongside a higher reciprocal tariff on countries with which the US has a trade deficit.
The Philippines was slapped with a 17-percent tariff, which government officials and analysts saw as a potential boon to the country’s export industry, given that it is one of the lowest in Southeast Asia.
Trump has since moved to pause these higher tariffs on most countries until July, keeping only the initial 10-percent tariffs.
Roque earlier told reporters that she plans to meet with her US counterpart before the suspended tariffs are reinstated.
Without disclosing the date of this meeting, the Secretary said the DTI is committed to continuing to hold “open dialogue and robust engagements” with key stakeholders.
She stressed that the views and interests of various sectors must be considered as the government works to secure the ideal outcome for the country’s trade with the US.
Roque added that there is an urgent need to identify opportunities and challenges associated with the imposition of the 17-percent reciprocal tariffs, in the event that the US decides to retain them.
According to the DTI’s Facebook page, Roque recently met with Japanese Ambassador Endo Kazuya to “exchange views on the evolving US tariff policy and its impact on regional and global trade.”
Early this month, she also met with Zhiyong Zhou, Chargé d’affaires of the Embassy of the People’s Republic of China, to discuss “growing concern over tariffs” and their “broader impact on global trade.”
The Trade Secretary said engaging with trade partners like Japan and China will help the country navigate shifting trade landscapes.