go through Justin Ireland D. Table, reporter
The Philippine government said it is confident that it will establish a “mutual advantage” arrangement with the United States ahead of its trade talks with us next month.
Philippine Frederick D. Frederick D. Frederick D. Frederick D.
Mr. Go made a statement after consultations with the Ministry of Trade and Industry (DTI) and the leading export leaders.
Mr. Go will lead the delegation of Washington to discuss tariffs on Filipino goods with the United States Trade Representative.
President's Minister of Communications and Palace Press Officer Claire A. Castro said Monday that the meeting will be held in the first week of May.
Earlier this month, U.S. President Donald J. Trump introduced a 10% blanket tariff to all his trading partners, but suspended a plan to impose higher reciprocity tariffs on some countries for 90 days.
Philippines exports to the United States face 17% tariffs, the second lowest tariff among the Federation of Southeast Asian countries, behind Singapore's benchmark rate of 10%.
According to DTI, consultations with export leaders are designed to “gather insights and develop strategic measures to strengthen consultations on bilateral trade with the recently imposed U.S. reciprocity tariffs.”
DTI said exporters have expressed their insights on the current U.S. market trends.
It added: “They shed light on the strategic opportunities and challenges raised by the coronavirus…the discussion focused on how governments and the private sector worked together to emphasize that the Philippines is a reliable and trustworthy trading partner amid uncertainty in international trade.”
DTI expressed confidence that the Philippine government can work with the United States to identify opportunities that will benefit their respective economies.
Massachusetts Secretary of Commerce: “The negotiation process enhances mutual understanding and consistency in common goals,” said Cristina A. Roque.
According to the trade chief, the consultations “aim to ensure that the government ensures the best results for the Philippines in its trade relations with the United States to ensure the perspective and interests of various sectors.”
In a previous statement, Ms. Rock said the Philippines aims to allow the United States to promote market access to major export interests in Washington, such as cars, dairy products, frozen meat and soybeans.
Port issues
Meanwhile, Nelson M. Mendoza, president of the United Portusers Conterederation, said U.S. tariffs are an urgent concern for the shipping industry.
“At present, even exporters don't have a better position, as many of their orders, although not cancelled, are still on hold.” Mr Mendoza told reporters on Wednesday.
He added: “These orders are held due to tariffs. Now, due to the 90-day pause, these orders may be moved out initially. But after 90 days, we don't know what will happen.”
Mr Mendoza said the 2025 export order reduces costs and costs in 2024.
Meanwhile, he said importers will also be affected, as goods from the United States will be more expensive.
“As the transportation line says, their ship's routes can be irregular for a moment. For me, I can say at least four years, because Trump will be there for four years,” he said.
“We just hope that negotiations between the United States and other countries will pave the way for at least neutralization (the situation)” he added.
However, Mr Mendoza said new tariff measures could also bring opportunities, such as Chinese companies increasing production in the Philippines.
“They may be exporting at lower tariffs compared to China. They may not necessarily move here, but may increase production,” he said.
He added: “But it's important that we've improved the ease of doing business, so many people transfer it to us. Because we're not competitive in doing business compared to other Asian countries.”
