Palace Press Officer and Communications Undersecretary Claire Castro (Betheena Unite)
Malacañang said the Philippine economic team will continue to engage with the United States following its imposition of a 15-percent increase in import duties.
"We will continue to engaged with the US given that US remains a major trading partner," the economic team said in a statement read by Palace Press Officer and Communications Undersecretary Claire Castro in a press briefing on Wednesday, Feb. 25.
In the meantime, the economic team added, they will "evaluate and monitor recent development."
"Our goal is to ensure that our trade and investment relations with the US remain stable and predictable," the economic team further said.
Over the weekend, US President Donald Trump increased the tariffs he imposes on all trade partners, including the Philippines, by five percentage points (ppts) from his initial announcement of 10 percent.
Despite the increase, Finance Secretary Frederick Go believes the Philippines stands in a “good spot” as select goods exported to the US continue to enjoy tariff exemptions.