The Philippines is preparing for the potential economic ripple effects from ongoing negotiations on the United States’ tariff policies, with Malacañang assuring the public that the Marcos administration is taking proactive steps to protect national interests.
“Whatever happens here, the country needs to be ready, ” said Presidential Communications Office Undersecretary Claire Castro during a press briefing on Wednesday.
She affirmed that Manila and Washington are engaged in bilateral talks regarding the potential effects of US tariff policy as the 90-day pause nears its July 9 expiration.
While specific details of the discussions remain confidential, Castro emphasized that the administration is closely monitoring developments.
“That’s why our President and economic team are always studying matters regarding this,” Castro said in Filipino, noting that the Marcos administration has tasked its economic managers to prepare contingency plans.
Castro assured the public that any resulting decisions from the negotiations would reflect the country’s long-term economic strategy.
“Whatever the resolution may be, it will be for the benefit of the country,” she said.
US President Donald Trump’s tariff regime, reintroduced under what he has dubbed “Liberation Day” trade policy, imposes a 10% universal tariff on nearly all US imports and threatens additional “reciprocal” tariffs of up to 50% on goods from countries deemed to have unfair trade practices.
While the initial tariffs took effect in April, the more punitive country-specific rates were suspended until July 9 to allow time for bilateral negotiations.
The Philippines currently faces a proposed 17% reciprocal tariff rate under the policy.
