The Department of Trade and Industry (DTI) said it is moving swiftly to assist sectors affected by the United States’ new 19-percent tariff on Philippine exports, which took effect Friday.
DTI Secretary Cristina Roque said the agency is mobilizing its network of foreign trade offices to help exporters find alternative markets, particularly in Europe and Asia.
The agency said it is also stepping up trade missions and market-matching efforts to connect local producers with new buyers.
“We’re ready to support affected exporters, especially MSMEs [micro, small and medium-sized enterprises], by helping them shift to other markets and expand locally,” Roque said at the sidelines of the 31st National Retail Conference and Expo.
The DTI will also intensify product development and upskilling programs to help businesses meet international standards, access financing and improve competitiveness, she said.
Exporters serving the US market are being encouraged to explore domestic channels and other regions with growing demand.
Roque said the Philippines is fast-tracking new trade agreements, including those with Israel and Chile, following the recently-concluded Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates.
“There’s no change in the US tariff. It’s still 19 percent, but we’re not standing still. We have the tools and we’re using them to help our people,” she said.
So far, there is no indication from the White House that the new rate will be reversed or delayed.
