DTI worried over US tariff move on PH exports

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The Department of Trade and Industry (DTI) has expressed concern over the proposal of the United States to slap universal tariff on imports as this could potentially impact Philippine exports to the US, the country’s top market.

 In a statement yesterday, DTI Secretary Cristina Roque said the extent of the impact will depend on a number of factors, including the final tariff rate and the response of other countries. 

Roque said it will work closely with the US administration in addressing the Philippines’ concerns.

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Roque said the DTI will actively engage in discussions with the US “to find a mutually beneficial solution that supports both our economies and further strengthens our trade and investment ties.”

This could include the possibility of preferential trade agreements, she said. 

“We firmly believe that free and open trade is essential for economic growth and development, both in the Philippines and globally. We are working earnestly with our trading partners, including the US, to ensure that trade remains a driving force for prosperity,” Roque said.  

She added: 

“With this, the DTI is committed to ongoing dialogue with the US administration to convey our concerns about the proposed universal tariff. We are confident that through collaboration and open communication, we can reach a resolution that is beneficial to both our nations and our people,” Roque said. 

A Reuters report on Jan. 28, 2025 said US President Donald Trump has launched numerous tariff threats, ranging from broad ones – a universal tariff on foreign-imported goods – to ones aimed at specific sectors, regions, or at specific countries in an effort to get others to meet his policy demands.

The report said a cornerstone of Trump’s vision includes a phased rollout of universal tariffs on all US imports. 

His recently confirmed Treasury Secretary Scott Bessent has been pushing for a modest 2.5% tariff rate that would climb each month, according to a Financial Times report as quoted by Reuters.

Reuters added Trump has suggested tariffs could be even higher.

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