Manila: The 17-percent tariff that the United States will impose on Philippine exports starting April 9 will have only a minimal impact, according to Malaca±ang. In a press briefing, Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro stated that the tariff imposed on the Philippines is lower compared to the rates set for other countries.
According to Philippines News Agency, Castro, citing a statement from the Department of Trade and Industry, mentioned that the impact of the US' latest move on the Philippines would be 'very minimal.' "Desisyon po kasi ng gobyerno ng US iyan. Kung mayroon po silang dapat na pangalagaan patungkol sa kanilang mga economic growth nila or sa kanilang mga ekonomiya, hindi po ito mapipigilan. Iyan po ang kanilang magiging polisiya (That's the US government's decision. They can't be stopped if they want to protect their economic growth or their economy. That will be their policy)," Castro said.
She further elaborated that the 17 percent tariff is the second lowest in their opinion and is not considered detrimental. "At sabi nga po natin, ang pagpataw po ng 17 percent na second lowest sa ating palagay ay hindi na po ganoon kasama. Mabuti pa rin po ito sa ating palagay (And as we said, the 17 percent that was imposed on us is the second lowest in our opinion and it is not that bad. It's still good in our opinion)," she added.
The US has imposed higher tariffs on other Southeast Asian countries, including Cambodia (49 percent), Vietnam (46 percent), Myanmar (45 percent), Thailand (36 percent), Indonesia (32 percent), and Malaysia (24 percent), while Singapore will face a baseline 10-percent tariff rate.
Castro expressed that the US' reciprocal tariff policy could benefit the Philippines, as countries facing higher tariffs might consider investing in Manila instead. "Kapag po nanatili ang ganitong klaseng polisiya, maaari pa rin din po tayong makakuha ng mga investors mula doon sa mga bansa na may pinapatawan ng malalaking tariff (If this kind of policy remains, we can get investors from those countries that will be subjected to higher tariffs)," she said.
She added that these countries could opt to conduct business and manufacturing in the Philippines due to the relatively lower tariff. "So, maaari silang pumunta sa Pilipinas, dito sila magsagawa, mag-manufacture, dahil 17 percent lamang ang pinapataw sa atin. So, puwedeng negative-positive ito (So, they can come to the Philippines, they can do business here, they can manufacture, because we are only charged 17 percent. So, it can be negative, it can be positive)."
According to the latest data from the US government, US goods trade with the Philippines totaled an estimated USD23.5 billion in 2024. Imports from the Philippines to the US amounted to USD14.2 billion in 2024, an increase of 6.9 percent or USD912 million from 2023. On the other hand, exports of US goods to the Philippines in 2024 were USD9.3 billion, up by 0.4 percent or USD38.8 million from 2023.
