A SENIOR legislator has asked the new secretary of the Department of Trade and Industry (DTI) to further boost Philippine exports by aggressively pursuing the revival of the preferential duty-free status of local products granted by the United States to the Philippines during the previous Trump administration.
Camarines Sur Rep. Luis Raymund Villafuerte suggested during the recent CA hearing on the interim appointment of Ma. Cristina Aldeguer-Roque as trade secretary that with Trump’s reelection as American president, she could prioritize lobbying in the White House and the US Congress for the renewal of the preferential treatment earlier accorded the Philippines under the US Generalized System of Preference (GSP) program.
Villafuerte urged Roque to work with Philippine ambassador to the US Manuel Romualdez on lobbying the incoming Trump administration to restore the Philippines’ GSP zero-tax privilege.
This GSP granting duty-free entry to certain products of 122 designated beneficiary-countries (BDCs) and territories, including the Philippines, was renewed by Trump in 2018 for a two-year period until end-December 2020, under the Omnibus Spending Bill for the US that he signed in March 2018.
Villafuerte said that in their two previous meetings, he was impressed with Roque’s enthusiasm and energy to promote domestic trade and investments.
“I think the single biggest act that can impact our country by boosting our export sector on your watch as DTI secretary is for you to work towards the renewal of the GSP granted by the US government to Philippine exports. This expired on Dec. 31, 2020,” Villafuerte said.
“This GSP privilege had granted duty-free status to Philippine exports to the US. So if that can be fully renewed by the US Congress, it will boost our exports because the landed costs [of our products] will decrease because there is no duty.”
