THE PHILIPPINES continues to await its own tariff letter from the US after Washington announced rates for many Asian neighbors, the Palace said, adding that Secretary Frederick D. Go will make the announcement when Washington notifies Manila.
“There is still (no tariff rate),” Palace Press Officer Clarissa A. Castro told reporters at a briefing, in response to a query about a tariff letter from Washington.
She said Mr. Go, the special assistant to the President for investment and economic affairs will explain the deal negotiated with the US once the letter arrives.
“Once there is a letter, (Mr. Go) will make the announcement and explain it to the media,” Ms. Castro added.
Many regional neighbors have received tariff letters from Washington, notifying them of their negotiated tariff rate, many of which were little changed from the initial reciprocal tariffs announced in early April.
Trade negotiations with Washington, in which Mr. Go served as the co-leader of the Philippine delegation, are subject to a confidentiality agreement.
US President Donald J. Trump sent out tariff letters to Japan and South Korea earlier this week, announcing both their rates on social media as 25%. He also sent similar letters to Myanmar (40%), Laos (40%), Indonesia (32%), Malaysia (25%), and Thailand (36%).
On April 2, the White House initially announced “reciprocal” tariffs of 24% on Japan, 25% on South Korea, 44% on Myanmar, 48% on Laos, 36% on Thailand, 32% on Indonesia and 24% on Malaysia. The Philippines had initially been assigned a rate of 17%.
The reciprocal tariffs were suspended pending negotiations with various trade delegations, while a 10% tariff was applied in the interim to most trading partners, including the Philippines.
Vietnam has since been assigned 20% as one of the first two countries to conclude a trade deal with the US, alongside the UK.
Mr. Trump said changes to the tariffs charged on trading partners take effect on Aug. 1, though he was open to further negotiations. — Chloe Mari A. Hufana