President Marcos urged the United States to renew the duty-free privilege given to thousands of Philippine export products to help the country recover from the pandemic. | MRamosINQ /PDI
“We would like to request for reauthorization … to boost trade and to make US products that are made in the Philippines more competitive,” the President said at the forum.
In the Asia-Pacific bulletin published in June last year by the US government-run East-West Center, it said that since Manila’s eligibility expired in 2020, American firms importing from the Philippines paid $121 million in extra tariff on $1.9 billion worth of goods that would have otherwise qualified under the GSP.
“I have expressed my support to the Congress for [it] to reauthorize, but that action must be taken by the US Congress,” Tai said.However, the US Congress is considering other issues in renewing the GSP for the Philippines, including human rights and labor issues. “There has been some movement in that direction but unfortunately because of a lot of developments, especially on the new Ipef, which basically touches on a lot of the trade issues surrounding the Association of Southeast Asian Nations region, there is that delay on specific GSPs that we’re all working on,” he said.The Ipef was launched by Biden last year in a bid to increase the economic engagement of the United States in the Indo-Pacific region.
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