MANILA, April 9 — Philippine Trade Secretary Maria Cristina Roque said the government would not retaliate against the recently imposed 17 per cent tariff on locally made goods entering the United States (US) market as part of Trump’s “Liberation Day”, the Philippine News Agency reported.
Speaking to the press on the sidelines of the National Food Fair in Mandaluyong city today, she said President Ferdinand Marcos Jr.'s administration prefers a constructive approach focused on strengthening trade ties with the US.
“No, we do not have any of those (retaliation). We just move on a positive note, and we really have more trade between our country and the US,” Roque said.
The Asian Development Bank warned earlier that retaliatory measures by developing countries could reduce regional gross domestic product growth by 0.1 percentage points in both 2025 and 2026.
The Philippines, as part of developing Asia, could be affected by any escalation of trade tensions.
The country’s top trade official is set to join a virtual meeting of Asean Economic Ministers on Thursday to discuss the bloc’s ways forward following Trump’s tariff order that took effect on April 9.
“We have a meeting on Thursday with the different ministers of Asean, and let us see what we can agree on there, and see what we can do to be able to work hand in hand as Asean,” she added.
Following a Cabinet-level meeting yesterday, the country’s economic team agreed to first listen to the positions of other Asean member states before finalising its stance.
Roque also floated the possibility of lowering tariffs on US imports as a gesture of goodwill in the hope that Washington might reconsider its decision.
“This could be an opportunity for both countries to open discussions on a potential free trade agreement that would eliminate certain tariffs and enhance economic cooperation,” she said.
— Bernama
