Following the imposition of the 20 percent tariff by United States President Donald Trump on all US-bound exports, the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) expresses grave concern, deeming the escalated tariff rates punitive to all exporting Filipino business owners.
In a statement on Friday, FFCCCII president Victor Lim said such unilateral measures violate fundamental World Trade Organization (WTO) principles of non-discrimination and fair trade, threatening to disrupt carefully developed supply chains, harm businesses and consumers in both nations, undermine the rules-based global trading system, and set dangerous precedents for economic fragmentation.
The Philippine government, through the Office of the Special Assistant to the President for Economic and Investments Affairs, and the Department of Trade and Industry, said they will renegotiate the US government’s decision and said they will fly to Washington D.C. next week to have a second round of negotiations with US Trade Representative Jamieson Greer.
“FFCCCII supports efforts by the government to use diplomacy to negotiate fairness and to protect Philippine national interests and our economy,” the FFCCCII president said.
With the tariff imposition, set to take effect on 1 August, the FFCCCII has called for strict enforcement of anti-dumping regulations against flooding of unfairly priced imports; comprehensive measures to combat smuggling; and support mechanisms for affected agricultural and manufacturing sectors.
“Our domestic industries require and deserve a level playing field in global markets. Protect our workers and farmers. Rather than counterproductive tariffs, we propose to have immediate bilateral consultations to resolve trade concerns; accelerated negotiations for a U.S.-Philippines Free Trade Agreement; strengthened multilateral engagement through WTO mechanisms, and cooperative solutions that promote stability and shared prosperity,” the group leader said.
Despite this, Lim said the FFCCCII remains committed to advocating for fair trade practices and sustainable economic partnerships that benefit all stakeholders.