Roque, Go to negotiate with USTR next week

TRADE Secretary Cristina Roque will be joining Frederick Go, special assistant to the president for investment and economic affairs, in traveling to Washington next week for negotiations in the wake of a 17-percent reciprocal tariff ordered by US President Donald Trump.

Roque told reporters on Friday that during the April 29 to May 2 visit, the goal was to negotiate lower tariffs while maintaining the Philippines' strong relations with the United States.

"Our goal in the meeting is to get what is best for our country, which is to bring down the tariffs and to reiterate the continued strong partnership between the Philippines and the US," she said.

Roque said that local businesses wanted lower tariffs as these would give the Philippines an edge in attracting more investors. Officials have said that the country could benefit from the 17-percent duty as it was substantially lower than rates levied against most Asean economies.

The Philippines, she said, is considering offering to buy more goods from the US.

"On what we are prepared to offer, one of the things we are initially considering is to import more products from the US, let's say soybeans or frozen meat, anything agricultural, but note, this is still not final as we need to balance everything," Roque said.

The trade chief made the statements as she led the opening of a franchising expo in Pasay City. Franchising, she said, will help the micro, small and medium enterprises (MSMEs) that make up the bulk of Philippine companies grow and become competitive.

"At the DTI (Department of Trade and Industry), we recognize franchising as a powerful engine for economic development. It is a proven pathway for MSMEs to earn higher profits and reach greater heights," she added.