Malacañang on Wednesday said the Philippine economic team will continue engaging with the United States after Washington raised import duties by 15 percent.
In a February 25 briefing, Communications Undersecretary and Palace Press Officer Claire Castro relayed the economic managers’ position, emphasizing the importance of maintaining ties with one of the country’s key trading partners.
“We will continue to engage with the US given that the US remains a major trading partner.”
The economic team added that it would “evaluate and monitor recent developments” to safeguard trade and investment flows.
“Our goal is to ensure that our trade and investment relations with the US remain stable and predictable,” the statement added.
The tariff adjustment — affecting all US trade partners, including the Philippines — was announced over the weekend by US President Donald Trump, increasing duties by five percentage points from the previous 10 percent rate.
Despite the hike, Finance Secretary Frederick Go expressed optimism that the Philippines remains in a relatively strong position, noting that certain Philippine exports to the US will continue to enjoy tariff exemptions.