President Marcos should remind United States (US) President Donald Trump that the Philippines is America’s “best ally” in Southeast Asia as the government pursues a beneficial trade deal amid the upcoming implementation of the 20 percent tariff, according to a prominent business leader.
Following a trilateral meeting with representatives of Japan and the Philippines, US State Secretary Marco Rubio announced that Marcos is scheduled to visit Washington, DC, “in a few days” to meet with Trump.
Rubio said the US intends to build upon its strong economic and security ties with the Philippines.
Marcos’ first visit to the US since Trump assumed office in January comes after Trump’s move to raise the tariffs against Philippine goods entering America from 17 percent to 20 percent.
With the upcoming meeting, Philippine Exporters Confederation Inc. (Philexport) President Sergio Ortiz-Luis Jr. said Marcos should refrain from offering concessions to address the tariff issue.
DTI Secretary Cristina Roque previously said the government may facilitate better access for exports such as vehicles and dairy products.
Based on government data, the US accounts for approximately 20 percent of the country’s agricultural imports.
“The best way for us is to just keep reminding them that what others are offering, you already have, we’ve already given it to you. We should remind them that we’re their best ally here,” he told Manila Bulletin.
“Ano pa ine-negotiate natin? Binigyan na natin lahat sa kanila. (What else are we negotiating with? We’ve already given them everything),” he added.
Based on the most recent announcements of update tariff rates, the Philippines remained the second-lowest tariff rate among member states of the Association of Southeast Asian Nations (ASEAN).
Ortiz-Luis said this is a “bad sign” as the initial 17 percent placed the country in an advantageous position to attract investments. By facing the same tariff as Vietnam, this positive outlook is now in deep jeopardy.
Investing in the long-term, he said, means more funding for the DTI, which oversees the country’s exports.
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Credit belongs to: www.mb.com.ph
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