He met Raimondo during Philippine President Ferdinand R Marcos Jr.’s official visit to Washington, D.C., where he met President Joe Biden and called for the renewal of the US Generalised System of Preferences (GSP) at a meeting with business executives.
The US GSP, which provides zero duty for 3,500 tariff lines, expired on December 31, 2020, and is yet to be reauthorised by the Congress.
DTI under-secretary Ceferino Rodolfo—who is also part of the delegation—said the US executive authorities have conveyed their support for the reauthorisation, and therefore, the Philippine government is hopeful.
The US executive department is also supportive of the provision that the tariffs paid since 2021 will be reimbursed, he added.
The delegation has planned to meet at least eight US companies, hoping to bring in more investments and jobs, Pascual was quoted as saying by a news agency.
ALCHEMPro News Desk (DS)
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