PH-US trade talks continuing as Trump plans to hike global tariff rate, says DTI

The bilateral trade discussions between the Philippines and the United States are continuing as the country is yet to plan its next move should US President Donald Trump raise the tariff rate on exports to America from all countries from 10% to 15%.

“Continuous ang talks with the US (Talks with the US are continuous),” Trade Secretary Cristina Roque told reporters at the sidelines of Association of Southeast Asian Nations (ASEAN) Editors and Economic Opinion Leaders Forum in Makati City on Tuesday.

“We’re still where we at now. There’s still nothing yet,” Roque said.

The Trade chief was asked for the DTI’s comment on Trump’s announcement that he will raise the global tariff rate to 15% to 10%, which he imposed shortly after the US Supreme Court struck down his “Liberation Day” reciprocal tariff policy.

Pressed for more details on the Philippine side’s plan should Trump remove the exemptions granted to Manila in the previous tariff policy.

“It’s hard to make assumptions now... For now… we are still in talks,” Roque said.

In the case of the Philippines, exempted products covered in the US chief executive’s previous tariff policy include exports of electronics and semiconductors and agricultural produce such as coconuts, pineapples, bananas, and mangoes.

The US high tribunal ruled that Trump’s sweeping tariffs that he implemented under International Emergency Economic Powers Act or IEEPA was illegal as the said law he used did not grant him authority to impose tariffs as the US Constitution grants Congress, not the president, the authority to issue taxes and tariffs. — BAP, GMA Inegrated News