THE PRESIDENTIAL PALACE on Thursday raised alarm over the US decision to increase tariffs on Philippine exports to 20%, as a high-level delegation prepares to fly to Washington next week to seek adjustments.
The Philippine Exporters Confederation, Inc. (Philexport) also expressed concern about the country’s shrinking trade leverage with the US after US President Donald J. Trump’s move to hike tariffs from the “Liberation Day” rate of 17%.
“We are concerned that, notwithstanding our efforts and constant engagements, the US still decided to impose a 20% tariff on Philippine exports,” the Trade department said in a separate statement.
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