FILIPINO exporters to be affected by higher US tariffs will be assisted in finding new markets, Trade Secretary Cristina Roque said on Friday.
“We will continue to expand our trade network to provide more business opportunities and enhanced market access for our exporters,” she said as US President Donald Trump hit more countries with higher tariffs but delayed implementation by seven days from an Aug. 1 deadline.
“We’re ready at least to get started. For those that will be affected, we’re ready to assist them, to find the different avenues or other markets, both locally and globally,” Roque added.
Philippine trade representatives all over the world, she claimed, have been working to open up opportunities as “we also have to think that the US is not the only market in the world.”
Following talks last month, Trump said he would be imposing a 19-percent duty on Philippine exports to the US, down from the 20 percent threatened earlier in July but higher than the 17 percent announced in April.
Details of the deal, which includes zero tariffs on certain US exports, are still being worked out.
Department of Trade and Industry (DTI) officials have said that while the Philippines wanted to improve trade with the US, they were also working on reaching agreements with other markets such as the European Union, Chile and the United Arab Emirates.
Roque said exporters wanting to explore other markets should seek Trade department assistance, saying “it’s easy for us to arrange different meetings abroad or worldwide using the DTI offices and trade missions.”
“On the part of the Philippine government, we will continue with our talks with the US, and hopefully we can come up with a mutually beneficial deal [at] the soonest possible time,” she also said.
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