The Philippines is preparing to respond to the imposition of a reciprocal tariff of United States President Donald Trump last week imposing tariffs ranging from 10 percent to 50 percent to goods coming from 180 countries in a bid to boost the US manufacturing sector.

The 10 baseline tariff was implemented last Saturday, while 11 percent to 50 percent tariff will take effect on April 9.

Palace Press Officer and Undersecretary Claire Castro said among issues to be discussed in a meeting of President Ferdinand Marcos Jr. with concerned government agencies is the basis of the 17 percent additional tariff on Filipino goods entering the US market.

Trump said the rate was supposedly based on the 34 percent tariff, including trade barriers, which were imposed by the Philippines on US goods.

In an interview with Palace reporters Monday, Finance Secretary Ralph Recto said the 17 percent additional tariff imposed by the US to the Philippines will give it an edge in attracting investors.

"For example, look at the tariff difference, if Vietnam has a 40 percent tariff going to America, while the Philippines has a 17 percent tariff, it will make sense for them to come to the Philippines and the tariff will be cheaper if their products are made here and if they are sold in America. So there are also opportunities," Recto explained.

He said the reciprocal tariff of the US and the response by countries will cause a slowdown in the global economy, which will affect the Philippines.

Recto is hoping the country's mostly domestic-driven economy will insulate it from the global impact of the reciprocal tariff.

It was reported during the weekend that the Association of Southeast Asian Nations (ASEAN) is discussing a coordinated response on the reciprocal tariff.

It was reported that called Malaysian Prime Minister Anwar Ibrahim spoke to Indonesian President Prabowo Subianto, King of Brunei Darussalam, Sultan Hassanal Bolkiah, Singaporean Prime Minister Lawrence Wong, and Marcos to discuss the matter.

ASEAN economic ministers will hold a emergency meeting this week to discuss the tariff and request for a review from the US, a news report said. DMS