Philippine Presidential Advisor Says US-Philippines Trade Talks Are Not Over!
Frederick Go, the economic advisor to President Marcos, said on Thursday that the negotiations regarding the 19% tariff on American imports of Philippine goods are not over.
Previously, President Marcos defended the Philippines against public questioning about whether the country was losing out, stating that the US-Philippines agreement, which seemed like a small concession, was actually a major achievement, causing a stir in the Philippines.
Frederick Go said on Thursday: "The talks are not over. Our technical working group will continue to cooperate with their American counterparts to finalize the details of this arrangement, and there is still a lot to discuss."
Frederick Go stated that although U.S. exports of soybeans and wheat to the Philippines will be duty-free, key areas such as sugar, corn, rice, fish, and pork will continue to protect the interests of Filipino farmers.
"I can assure you that we have studied the country's largest industries, and we are important market producers in this country. These are not included in our agreement with the United States."
Frederick Go believes that lowering some tariffs, especially for medicines, benefits Filipino consumers.
"Medicines are very expensive in the Philippines. If they are duty-free, this can lower the prices of medicines in our country."
Frederick Go also said that although the Philippine import tax is now higher than the 17% proposed in April, it is already the second lowest in Southeast Asia, behind Singapore's 10%.
"This is important because when our tax rate is low, we can attract foreign direct investors to build factories in the Philippines, establish businesses in the Philippines, and export products to the United States. So, being second in Southeast Asia is important, so they can develop their businesses here."
Original: https://www.toutiao.com/article/1838559307216908/
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