Philippines plans to negotiate with US to lower tariffs, envoy to Washington says

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Philippine Ambassador to the US Jose Manuel Romualdez said they are planning to negotiate with the US for lower tariffs.

PHOTO: REUTERS

MANILA - The Philippines is planning to negotiate with Washington to lower tariffs after the United States moved to

impose higher 20 per cent duties on goods imported from Manila

We are still planning to negotiate that down, Mr Jose Manuel Romualdez said in a phone message.

US President Donald Trump on July 9 issued Aug 1 tariff notices to several trading partners including the Philippines, which he slapped with a 20 per cent duty, higher than the previously announced 17 per cent.

Asked what rate the Philippines is looking at, he said: Will see.

US goods trade with the Philippines reached an estimated US$23.5 billion (S$30.1 billion) in 2024, according to data from the Office of the United States Trade Representative.

US exports to the Philippines stood at US$9.3 billion, a 0.4 per cent increase from 2023, while imports from the Philippines totalled US$14.2 billion, up 6.9 per cent year-over-year.

The resulting US goods trade deficit with the Philippines widened to US$4.9 billion in 2024, marking a 21.8 per cent increase from the previous year.

There was no immediate comment from the office of the Philippine president. REUTERS