Philippines expresses concern over U.S. tariffs, vows to continue trade talks
The Philippines has voiced concern over the United States' decision to impose a 20% tariff on Philippine exports, but remains committed to continuing trade negotiations, officials said Thursday.
Economic Affairs Secretary Frederick Go said Manila is still pushing for a comprehensive bilateral agreement, potentially even a free trade agreement (FTA), to reduce trade barriers and ensure long-term access to U.S. markets, News.Az reports, citing Reuters.
“We remain committed to continuing negotiations with the U.S. in good faith,” Go told reporters. “We aim for a comprehensive economic agreement, or if possible, an FTA.”
The tariff, set to take effect on August 1, has prompted Philippine officials to schedule talks in Washington next week in hopes of securing more favorable terms.
Philippine Ambassador to the U.S. Jose Manuel Romualdez echoed Go’s remarks, saying Manila would push to lower the tariff rate. “We are still planning to negotiate that down,” Romualdez said in a message.
The U.S. is one of the Philippines’ top export destinations, accounting for nearly 16% of total exports in the first five months of 2025.
In 2024, two-way goods trade between the nations reached $23.5 billion. U.S. imports from the Philippines rose 6.9% to $14.2 billion, while U.S. exports grew by just 0.4% to $9.3 billion, widening the trade deficit to $4.9 billion, a 21.8% increase from 2023.
Despite the tariff setback, Go said the Philippines would continue to implement economic reforms to enhance competitiveness and expand trade partnerships globally.
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