PH-US trade relations talks ends with positive note

Discussions between the Philippine economic officials and the US trade representative (USTR) ended on a positive note and remained hopeful for stronger bilateral trade.

Leading the Philippine delegation at the high-level meeting, Special Assistant to the President for Investment and Economic Affairs Frederick Go asserted that the talks "went very well," emphasizing how the Philippine economic officials highlighted the welfare of Philippine local industries at the center of the negotiations.

"We are hopeful that these discussions mark the beginning of a process toward arrangements from both sides that will not only strengthen US-Philippines trade ties but also help diversify our country's export markets," Go stated.

He added, "Our goal for this meeting is a partnership that benefits both sides and supports the growth of our industries at home."

Also present at the meeting, Trade Secretary Ma. Cristina Roque emphasized, "We were able to clearly convey to the USTR our local industries' asks and concerns and we are hopeful this will yield our desired results."

The full-scale discussion came in response to the US government's imposition of a 17-percent reciprocal tariff on Philippine exports, currently the second lowest in Southeast Asia, a move seen as significant for future trade relations.

Also included in the Philippine delegation were Go, Roque, and Philippine Ambassador to the US Jose Manuel Romualdez.

The reciprocal tariffs of the US government with several countries was imposed on April 9, with the Philippines getting a 17-percent tariff –lower compared to tariff rates from other Southeast Asian countries, including Vietnam (46-percent), Thailand (36-percent), Indonesia (32-percent), Malaysia (24-percent), and Cambodia (49-percent).