Hasten EU trade talks, gov’t urged – BusinessWorld Online
A PHILIPPINE lawmaker on Sunday urged trade officials to accelerate negotiations on a free trade agreement with the European Union (EU), saying the deal could open more markets for Filipino exporters amid shifting global trade dynamics.
Bohol Rep. Kristine Alexie B. Tutor also urged the Trade department to finalize a trade pact with Chile as the Philippines must still hedge its markets against uncertainties, even as the US Supreme Court struck down President Donald J. Trump’s sweeping tariff policy.
“It is in the Philippines’ interest to find other markets, make new friends, and forge new economic ties,” Ms. Tutor, who heads the House Globalization and World Trade Organization Committee, said in a statement. “Free trade is the sensible path forward, not high tariffs and economic disruption.”
Mr. Trump on Saturday announced a 15% across-the-board tariff on US imports from all countries, as he aimed to preserve his trade agenda a day after the Supreme Court struck down his use of an emergency economic law and ruled he had exceeded his authority when he imposed sweeping duties. The Philippines had faced a 19% levy on its goods since August last year as part of Mr. Trump’s drive to narrow Washington’s trade gap and boost domestic manufacturing. Tariffs have become the 79-year-old leader’s preferred tool to pursue that objective, a strategy that has since ushered in economic volatility and reshaped trade flows globally.
Manila has since sought to expand its trade ties, with authorities aiming to seal a free trade pact with the EU this year. A similar deal with Chile is also being eyed for signing by end-2026.
“I gently prod our Department of Trade and Industry to conclude the new trade agreements with the European Union and Chile this year,” said Ms. Tutor. “We must partake of the trade growth the EU and South America have mapped out.”
“Much better access to the export markets of the European Union, as well as South America, is what Filipino exporters need to create jobs and grow micro, small and medium enterprises,” she added. — Kenneth Christiane L. Basilio
