Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque (Photo by Alden M. Monzon)
MANILA, Philippines — The head of the Department of Trade and Industry (DTI) on Monday said that United States (US) President Trump’s recently proposed universal tariffs could have a potential impact on the country’s export sector, with its extent remaining largely uncertain as of the present.
“Since the US is the PH’s major trading partner and 8th largest export market for its agricultural products, the proposed universal tariff could potentially impact Philippine exports to the US,” Trade Secretary Ma. Cristina Roque said in a statement.
“The extent of the impact will depend on a number of factors, including the final tariff rate and the response of other countries,” she added.
READ: Trump announces talks with Canada, Mexico over sweeping tariffs
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To address the issue, Roque said that the Philippines will work closely with the US to find mutually beneficial solutions.
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This, she said, includes the possibility of preferential trade agreements.
“We firmly believe that free and open trade is essential for economic growth and development, both in the Philippines and globally. We are working earnestly with our trading partners, including the US, to ensure that trade remains a driving force for prosperity,” said Roque.
On February 1, the White House announced that it was implementing a 25 percent additional tariff on imports from Canada and Mexico and a 10 percent additional tariff on imports from China.
Additionally, the US said that they will also be imposing a 10 percent tariff on energy resources from Canada.
“President Trump is taking bold action to hold Mexico, Canada, and China accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country,” the White House said in a statement.
Aside from the impact on the country’s exports sector, the prices of goods that the Philippines imports from the western country could also be affected given the projection by some analysts that Trump’s move could drive up production costs in the US.
According to data from the Philippine Statistics Authority, the Philippines imported $18.17 billion worth of goods from the US in 2024, making the latter the country’s 8th largest source of imports.
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Data from the DTI obtained by the Inquirer showed that the Philippines’ top imports from the US in 2024 are processed food and beverages, accounting for about 35 percent of the total.
The other import goods in the list are electronic products, chemicals, as well as machinery and transport equipment.
