Philippine presidential assistant on economy Go says in message

Philippine presidential assistant on economy Go says in message

The Philippines continues to await its own tariff letter from the United States, as confirmed by the Office of the Special Assistant to the President for Investment and Economic Affairs, Secretary Frederick D. Go. The Philippine government is currently in a state of anticipation, with Go poised to make an official announcement once the letter from Washington arrives.

According to the Palace Press Office, there is no tariff rate set for the Philippines as of now. Secretary Go will be responsible for explaining the deal negotiated with the US once the letter is received. The announcement and detailed explanation of the tariff agreement will be made to the media once the letter is officially received.

The Philippine government has been engaged in trade negotiations with the US, where Secretary Go served as the co-leader of the Philippine delegation. These negotiations are subject to a confidentiality agreement. The US President Donald J. Trump has already sent tariff letters to several Asian neighbors, including Japan, South Korea, Myanmar, Laos, Indonesia, Malaysia, and Thailand, with rates ranging from 25% to 40% [1].

The reciprocal tariffs initially announced in early April were suspended pending negotiations, while a 10% tariff was applied to most trading partners, including the Philippines. Vietnam was one of the first countries to conclude a trade deal with the US, receiving a 20% tariff rate [1].

Meanwhile, the Philippine labor market has shown signs of recovery, with the unemployment rate dropping to 3.9% in May 2025, according to the Philippine Statistics Authority (PSA). This marks an improvement from 4.1% in both April 2025 and May 2024. The number of unemployed Filipinos decreased to 2.03 million from 2.11 million during the same month last year [2].

The employment rate also increased to 96.1%, with a total of 50.29 million employed individuals. The Labour Force Participation Rate (LFPR) climbed to 65.8%, indicating a stronger engagement of working-age Filipinos in the job market. These figures suggest a resilient job market with potential implications for workforce planning, skills development, and economic policy [2].

References:
[1] https://www.bworldonline.com/economy/2025/07/09/684338/us-tariff-letter-still-pending-go-tapped-to-make-announcement/
[2] https://hrsea.economictimes.indiatimes.com/news/industry/philippine-unemployment-rate-drops-to-39-in-may-2025-a-sign-of-economic-recovery/122310544