📊Executive Summary

The Philippines is set to benefit from a recent decision by the US government to exempt its top export products, semiconductors and electronics, from a 20% tariff imposed by President Trump. This exemption is crucial as it allows the Philippines to maintain its competitive edge in the US market, where it accounted for 16.6% of its total exports in 2024. The Philippine government is optimistic about future trade agreements with the US, aiming for a more comprehensive bilateral trade agreement. This situation presents procurement opportunities for companies relying on Philippine semiconductor and electronic exports, especially in light of the US's focus on securing its supply chain....