go through Justin Ireland D. Table, reporter
Philippine exporters remain cautious in the face of uncertainty caused by US Tariff regime, but hopes US President Donald J. Trump sees the Philippines as a “friendly country.”
Robert M. Young, chairman of the Philippine Foreign Buyers Association (FOBAP).ffOnce the pause in the downturn tower, Washington will be allocatedff End next week.
He said all exporters must continue, and U.S. Treasury Secretary Scott Bessent’s description of negotiations on the Philippines performed well.
“It is very likely that we have no choice but to return to April 2 (17%)ND Towerff Mr. Young told BusinessWorld on Monday.
“We are indeed in the dark …but the prayer of fobap is to have the smallest towerff To enhance (enhance) the economy we are still struggling with,” he added.
On April 2, Mr. Trump announced the TariffS, among most of its trading partners, the Philippines is allocated the second highest rate in Southeast Asia, at 17%. This has since been put on hold for 90 days to give time to negotiate. The suspension will end on July 9, while the trade delegation has made new deals with Washington.
In a Bloomberg report, Mr. Becent was quoted as saying that Mr. Trump threatened to impose new responsibilities on most trading partners, above the temporary 10% benchmark interest rate, with most smaller countries not reaching a deal next Wednesday.
But, he said about 20 countries “can continue negotiations but will see their towersff The exchange rate returns to the higher interest rate on April 2, or keep it at 10% if it is deemed to be negotiated in good faith. ”
In early May, by Secretary Frederick D. Go (Frederick D.ffAIRS and Business Secretary MA. Cristina A.ffs.
After the meeting, the Government established a technical working group to continue dialogue with the USTR. It was led by Vice Minister of Trade Allan B. Gepty.
Asked about comments, Mr. Jeepty said negotiations with the United States were “still in progress”.
