THE government has yet to receive official word from the United States regarding its new 15-percent global tariff but expects that exemptions previously announced will be maintained.
“I think the communication has not yet arrived,” Finance Secretary Frederick Go told reporters on Thursday.
“But of course, what we are hopeful for and what we assumed it to be is that if they apply the 15-percent tariff on us, it will continue to apply on the goods that they were applying a 19-percent tariff on,” he added.
“So the assumption is all the goods that were exempted before, which are the semiconductors and the major agricultural exports, will continue to be not included in the list of items which are subjected to the 15-percent tariffs.”
The US Supreme Court ruled on Friday that the tariff increases imposed by Donald Trump last year under emergency powers were illegal. Trump criticized the decision and announced that tariffs on all foreign imports would be raised to 10 percent, which he later said would be 15 percent.
The 10-percent tariff took effect shortly after midnight on Tuesday. It remains unclear when the 15-percent rate will be implemented.
