US President Donald Trump has imposed new tariffs on several countries, including the Philippines, as part of his broader trade policy, sparking global trade war concerns.
The tariffs on Philippine exports to the US have been set at 17%, lower than the rates imposed on neighboring Southeast Asian countries.
Through Presidential Communications Undersecretary Claire Castro, the Philippine government downplayed the impact of the tariffs, stating that they would be “very minimal” and that the country remains committed to strong US-Philippine trade relations.
Some experts warn that the increased costs could hurt Philippine exports, especially in the agricultural sector, but others see an opportunity for the country to gain market share as US importers seek alternative sources.
Agriculture Secretary Francisco Tiu Laurel Jr. and industry leaders believe that despite short-term challenges, the Philippines could remain competitive and potentially benefit from the shifting trade dynamics.
Source: PhilNews24 | April 4, 2025
