MANILA – The Philippines is planning to negotiate with Washington to lower tariffs after the United States moved to
impose higher 20 per cent duties on goods imported from Manila
, its ambassador to the United States said on July 10.
“We are still planning to negotiate that down,” Mr Jose Manuel Romualdez said in a phone message.
US President Donald Trump on July 9 issued Aug 1 tariff notices to several trading partners including the Philippines, which he slapped with a 20 per cent duty, higher than the previously announced 17 per cent.
Asked what rate the Philippines is looking at, he said: “Will see.”
US goods trade with the Philippines reached an estimated US$23.5 billion (S$30.1 billion) in 2024, according to data from the Office of the United States Trade Representative.Â
US exports to the Philippines stood at US$9.3 billion, a 0.4 per cent increase from 2023, while imports from the Philippines totalled US$14.2 billion, up 6.9 per cent year-over-year.
The resulting US goods trade deficit with the Philippines widened to US$4.9 billion in 2024, marking a 21.8 per cent increase from the previous year.
There was no immediate comment from the office of the Philippine president. REUTERS
