Philippines Aims to Lower US Tariffs Amid Trade Tensions

The Philippines is negotiating with the United States to reduce the newly imposed 20% tariffs on Manila's imports. Ambassador Jose Manuel Romualdez expressed intentions to decrease these, following an unexpected hike from the initially stated 17% rate, highlighting ongoing trade discussions.

The Philippines is set to open negotiations with Washington, aiming to lower the freshly augmented 20% tariffs on goods imported from Manila. This development unfolds after the U.S. moved to increase these tariffs, sparking a diplomatic and economic dialogue.

Jose Manuel Romualdez, the Philippines' ambassador to the United States, conveyed in a phone message that plans are underway to reduce these tariffs, reflecting the nation's strategic effort to alter the trading landscape.

The hike comes as a surprise increase from the previously announced 17%, prompting further deliberations on the final rate, as Romualdez indicated by stating, 'Will see.'

(With inputs from agencies.)