The Philippines is preparing for all possible scenarios when the United States’ 90-day suspension of reciprocal tariffs on its trading partners expires on July 9, 2025, a Malacañang official said on Wednesday.
In a briefing, Palace Press Officer Claire Castro confirmed that President Ferdinand Marcos Jr. and his economic team have modeled various scenarios and assessed their potential impact on the country’s exporters and broader economy.
“Whatever happens, the country is prepared. That’s why the president and the economic team continue to devote their time to this matter,” Castro said, speaking in Filipino and English.
Castro added that Philippine trade officials are in ongoing negotiations with their US counterparts to secure the most advantageous terms.
Under the policy announced on April 2, 2025 — dubbed “Liberation Day”— US President Donald Trump imposed a 10 percent universal baseline tariff on most imports, supplemented by higher country-specific tariffs ranging broadly from 11 percent to 50 percent. The specific rate for the Philippines was set at 17 percent, effective April 10 to July 9, 2025.
While the country-specific rates were suspended during the 90-day period, the 10 percent baseline remains in effect. After July 9, unless bilateral agreements are finalized, the higher national rates will be reinstated.
At the 46th Asean Summit in Malaysia last month, President Marcos reiterated concerns over the possible reinstatement of US tariffs. He warned that a sudden shift in trade policy could destabilize regional and global markets, and advocated for stronger economic cooperation within Asean to reduce vulnerability.
