MANILA (Reuters) – The Philippines is planning to negotiate with Washington to lower tariffs after the United States moved to impose higher 20 percent duties on goods imported from Manila, its ambassador to the United States said on Thursday.
“We are still planning to negotiate that down,” Jose Manuel Romualdez said in a phone message.
US President Donald Trump on Wednesday issued August 1 tariff notices to several trading partners including the Philippines, which he slapped with a 20 percent duty, higher than the previously announced 17 percent.
Asked what rate the Philippines is looking at, he said: “Will see.”
US goods trade with the Philippines reached an estimated $23.5 billion in 2024, data from the Office of the United States Trade Representative showed.
US exports to the Philippines stood at $9.3 billion, a 0.4 percent increase from 2023, while imports from the Philippines totalled $14.2 billion, up 6.9 percent year-over-year.
The resulting US goods trade deficit with the Philippines widened to $4.9 billion in 2024, marking a 21.8 percent increase from the previous year.
There was no immediate comment from the office of the Philippine president.
