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The Philippines responds to “monitored optimism” Thursday in US President Donald Trump’s Tarko TarkoSpeaking at a higher price placed by its neighbors can only give opportunity.
The long-term ally hit a reciprocal debt at 17%, even if the Department of Trade and Industry of Trade and Industry is in the country rankings between “minimum hit”.
“As we expect, the Philippines is one of the least hits of US exporters,” as this, informing higher tariffs (46%), Thailand (32%).
“New tariffs also put in the Philippines in a more useful position … specifically for some export products,” Trade Secretary Cristina Roque, coconut mentioned as a possibility.
“The task of hand is now for DTI and other government agencies how to act quickly and enjoying new development,” he said.
While the GDP GDP percentage obtained from exports is significantly lower than neighbors, Roque says that the United States has remained an “important export market”.
The US Embassy data shows the lack of Washington trade with Manila standing at $ 4.9 billion in 2024, up to 21.8% of the year.
But while Manila saw the positive side, it also signed a willingness to participate in talks.
The Philippines is ready to discuss “enhanced market access” for US interests “such as cars, milk products, frozen meats, and Soybeans”, Roqueans said.
He has reached his US counterpart to set up talks, his statement said.
As few as half of the nearly 17% US side of the Philippines exports represent electronic components, specific targets are thin.
“Now, we still have no details of the industries to be affected,” the purple claire Claire Castro says journalists.
But Victor Abola, Senior Economist at the University of Asia and Pacific, told the AFP that he expected semiconductor exports and “perhaps a fewer sellers.
Many electronic components, however, go to Japan and China, the two more top market in the Philippines, he said.
And even if the electronic parts are set, the Philippines can still be prior to higher duties placed by regional competitors, as Abola.
That difference can be seen as the factories delivered in the country, he added, while care to be the time.
George Barcelon, Chairman of the Chilter Chamber of Commerce and the industry also said he wanted to look at tariffs “because of positive countries facing high countries.
While claiming US consistency in the issue can cause anxiety, Barcelon suggests pushback home the last to see the issue.
“Sometimes, you know, the execution of these types of tariffs can have a downfall for US consumer, so (Trump) can work later and change it,” he said.
This story originally shown Fortune.com
