The Philippine Exporters Confederation Inc. (PhilExport) on Saturday welcomed President Ferdinand Marcos Jr.’s decision to personally lead recent trade negotiations with US President Donald Trump, calling it a reassuring demonstration of his commitment to the export sector and the broader Philippine economy.
“Many exporters were relieved and appreciative that the President himself took on the responsibility of being the chief negotiator. While the results may not have fully met our expectations in terms of tariff cuts, his involvement sends a strong and comforting signal of his concern for the export community,” PhilExport said in a statement.
The group also acknowledged the joint press briefing led by Trade Secretary Ma. Cristina Roque and Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go, which helped clarify the details of the talks.
PhilExport noted that while the new tariff rate of 19 percent remains relatively high, it is still lower than previous levels and likely represents the best possible outcome under the circumstances.
It said the sectors opened to US goods during the negotiations are unlikely to harm Philippine producers, as the country does not manufacture such products in large volumes.
Exporters assumed that the move could benefit local businesses and consumers, especially those that rely on imports of US technology and industrial inputs.
The group also welcomed the US government’s commitment of P3 billion in assistance for Philippine energy, maritime and economic growth, a pledge it described as a “critical intervention” to help buffer affected sectors from the impact of the remaining tariffs.
It is reportedly the first foreign aid package of its kind from the US under the current administration.
PhilExport said the negotiations laid the groundwork for sustained dialogue and future cooperation with the US, particularly on the prospect of a Free Trade Agreement (FTA) and additional market concessions for key Philippine industries, including agriculture.
“This engagement opens the door to broader and deeper negotiations. We look forward to building on this momentum to secure longer-term gains for our exporters,” the group said.
