Manila: The Philippine government is set to engage in discussions with the United States next week regarding the newly imposed 20 percent tariff on its exports. This move is part of the country's broader strategy to secure fairer trade terms, as confirmed by a leading Palace economic official on Thursday.

According to Philippines News Agency, Secretary Frederick Go, the Special Assistant to the President for Investment and Economic Affairs (SAPIEA), announced that a high-level delegation, including officials from the Department of Trade and Industry (DTI), will be dispatched to Washington D.C. to negotiate with US trade representatives. Go expressed the government's concerns regarding the US's decision to impose the 20 percent tariff on Philippine exports.

While the 20 percent tariff is a matter of concern, Go pointed out that it remains the second lowest in the region, with Singapore benefiting from the lowest rate at 10 percent. He clarified that the upcoming visit to the US was planned prior to the tariff announcement, but the issue has now taken precedence on the agenda.

Importantly, Go highlighted that the Philippines' leading exports, semiconductors and electronics, are currently exempt from the new tariff scheme, which is expected to be implemented in August. US officials are still deliberating on whether to continue these exemptions, but the Philippines presently holds a relatively advantageous position.

Beyond these immediate concerns, Go emphasized the administration's efforts to establish more comprehensive trade agreements that will bolster Filipino industries and enhance access to global markets. He reiterated the government's commitment to ongoing negotiations with the United States, aiming for a bilateral comprehensive economic agreement or potentially a free trade agreement (FTA).