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Philippines

US Revised Tariffs (%)

20

Ease of doing business

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Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1
17
20
1.8
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
9.3
14.18
-4.88

Implications

The United States has recently confirmed that a 20% tariff will be imposed on all Philippine goods entering the U.S., effective August 1, 2025. This rate is an adjustment from an earlier proposed 17% and is part of a broader set of "reciprocal" tariffs being implemented by the U.S. government on various trading partners.


Status of Deals and Agreements:


  • Ongoing Negotiations: The Philippine government, through its Special Assistant to the President for Investment and Economic Affairs, Frederick Go, has expressed its commitment to continued trade talks with the U.S. A high-level delegation from the Philippines is preparing to travel to Washington to negotiate a potential rollback of these tariffs. The aim is to establish a "win-win" framework for both nations.

  • Existing Framework: The U.S. and the Philippines have a long-standing trade relationship, operating under the 1989 bilateral Trade and Investment Framework Agreement (TIFA). Regular meetings are held under this agreement to address bilateral issues.

  • Uncertainty: Despite the ongoing discussions, the U.S. has indicated that the August 1 deadline for tariffs is firm, although the possibility of future adjustments based on negotiations remains open. The legal status of these reciprocal tariffs has also faced challenges in U.S. courts, adding a layer of uncertainty.


Impact on Companies and Sectors:


  • Electronics Manufacturing: This is the Philippines' largest export sector to the U.S., accounting for a significant portion of its shipments. While a large portion of semiconductor and electronics exports are currently exempt from these specific reciprocal tariffs, the 20% tariff on other electronic products could impact the competitiveness of companies like those supplying to U.S.-listed firms such as Dell and HP. Any reduction or concession on this tariff would greatly benefit this sector.

  • Agriculture: The agricultural sector, including exports of bananas, pineapples, and fisheries, could be affected. A 20% tariff would likely squeeze profit margins for exporters like Monde Nissin and Dole Philippines unless specific exemptions or carve-outs are negotiated.

  • Other Export Sectors: Other sectors where the U.S. is an important market for the Philippines include leather, furniture, toys, sports equipment, and textiles. These industries will also face increased costs due to the tariffs.

  • Overall Economic Impact: Philippine economic officials are currently assessing the full impact of the 20% tariff. While some analysts believe the Philippines may be in a relatively better position compared to other countries facing higher tariffs (e.g., Brazil at 50%), concerns have been raised about potential weaker exports, slower economic growth, employment risks, and investment uncertainty.

  • Mitigating Factors: Some analysts point to mitigating factors, such as the relatively small value-added of Philippine goods exports to the U.S. as a percentage of its GDP, and the ongoing exemptions for a significant portion of electronics exports.

  • Diversification: There's a call for the Philippine government to focus on export product development, market diversification, and accelerating free trade agreement talks to cushion the economic impact. Companies may also explore U.S.-based manufacturing partnerships.


In summary, while the 20% tariff on Philippine goods is set to take effect on August 1, 2025, negotiations are actively underway. The ultimate impact on Philippine companies will depend on the outcome of these discussions and the ability of businesses to adapt to the new trade landscape.

US Revised Tariffs

Country Tariffs

Balance of Trade

Commercial Guide

Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals

Tariff Rate for US

World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.

US Imports Guide 

United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

Sources : ForbesUSDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia International Trade Administration

theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

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