The global exchange “responded “Washington’s wide relaxation of tariff rates, although uncertainty still remains over the Outlook as Manila continues to negotiate a reduction in the 19% duty of repatriation, said the Ministry of Economy, and Develong.
“I think that global trade in many countries has responded well to the development,” DePDEV Secretary Arsenio M. Balisacan told reporters on the sidelines of a Senate hearing on November 18.
“But even so, it doesn’t mean the uncertainty has disappeared. It’s still there.”
The Philippines continues to press for low tariffs even after most of its agricultural exports were phased out under US President Donald J. Trump’s Executive Order, Mr Balisacan said.
Some goods from the Philippines are still hit with a 19% repatriation tariff when entering the US. However, the latest order of Mr. Trump
The Department of Trade and Industry initially said the latest order meant that Philippine Agricultural Products in the Philippines are now exempt from the 19% tax.
The primary agricultural exports extracted from the recovery include coconut (Copra) oil, both crude and other without cracking; fruits fruits; processed pineapple; mature coconut; prepared or preserved coconuts; Banana, without pulp; Dried guavas, mangoes, and mangosteens; pieces of frozen tuna; Rice Wafer Products; and confectionery products.
Mr. Balisacan said the release of the fee will improve the productivity of coconut farmers, and strengthen their export capacity.
Chief secretary and former finance chief Ralph G. Recto said the issuance of the levy marks a positive step for Philippine exports and agriculture, adding that they would help in economic growth.
“There is hope for us. I think President Trump saw that the tax rates were increasing for agriculture, so he removed them.
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Meanwhile, the Department of Agriculture (DA) is ready to support Philippine farmers in increasing their exports to the US.
“The path is clear. Now people can plan, invest, expand. So, it’s good to invest more money,” to start investing more in the US, jr. we told reporters on 3 sidesthe ld Philippine Hydro conference on Wednesday.
Mr. Laurel said the US order helped calm the concerns of Philippine advocates for coconuts, bananas and pineapples.
The agriculture official said that the agreement was 19%
“But now, everything is very clear … The President’s directive was to support all our export products. And that will be our plans for the next year,” said Mr. Laurel.
Philippine Exerters Confereralar, Inc. (Philexport) said the release of Philippine Expopps such as coconuts, pineapples, bananas, prices, and receiving communities, and rural communities in the Philippines. “
“This is a positive result of our ongoing collaboration and engagement with key stakeholders and partners to convey the need to export certain items and especially those products that are not produced in your area,” Sergio R. Ortiz-Luis, Jr., PhileXPREAN and President ofefICER, it said.
Culippine Chamber of Commerce and Industry President Enunina v. Mangio said the ban provides “much-needed relief to non-traders, and strengthens the competitiveness of Philippine products.”
For his part, University of Asia and the Pacific Associate Professor Proferle N. Manzano said the Philippines should continue negotiations with the US for a lower return price.
“However, we are not better compared to the time before President Trump introduced those retaliatory tariffs. Therefore, the Philippines should continue to negotiate the 19% retaliatory tariff,” he said in a Viber message.
Mr. Manzano noted that the removal of the repatriation fee does not mean that the Philippines is being exported, as the original National Tariff of the most visited country will still be implemented.
If the U.S. extended the tariff recovery to all trading partners, the relative competitiveness of the Philippines would remain unchanged, he added.
“This US tax exemption is a game changer for Philippine traders. Goods worth more than $1 billion – led by coconuts, coffee, cocoa, and processed fruits -You will now enter the US Dudity, “Jonathan L. Ravelas, senior counsel at Reyes Tacandong & Co, said in a Viber message to Businessworld on Wednesday.
He also said that the tax break could provide an opportunity to measure value added products for farmers and agricultural businesses.
“My advice? Move fast, ensure quality, and lock in trust legislation – this window won’t stay open forever,” he said.
For his part, the foundation of Economic Forporengel President Calixto V. Chikiamco, said that the release is “effortless,” and would like to surpass the Philippines.
“It was designed to reduce food prices in the US from becoming a hot political issue,” he said in a Viber message on Wednesday.
Meanwhile, Ivan Tan, director and lead analyst in Southeast Asia at Southeast Asia SAST e S & P e PASSTICE,
“I think the impact will be very mild,” he said in a webinar on Wednesday. “To begin with, the dependence of the Philippine economy on exports … is low. It is very low.”
IS & P Global said US tax policies could pose a downside risk to the economy and financial markets in the Asia-Pacific region.
“There is a high level of uncertainty regarding the implementation of the US policy and the possible responses – specifically in terms of tax rates – and the economic outcome,” said the debt impact, “says its latest goals of the Outlook 2026 report. – Aubrey Rose A. Inosana, Sheldeen Joy Talavera and Katherine K. Chan
