The new tariff rates threatened in the letters Trump shared Wednesday are similar to those he announced on what the White House dubbed “Liberation Day” in early April.

The Philippines is concerned about the United States' decision to impose 20% tariffs on Philippine exports but will continue to negotiate, its economic affairs minister said on Thursday.

The Philippine government is viewing with concern the higher-than-expected 20-percent reciprocal tariff to be imposed by the United States starting next month, as announced by the Trump administration on Thursday.

India could pose stiff competition to Sri Lanka and the Philippines for nearly a fifth of their exports to the United States as both countries are facing high import duties under new US trade arrangement,

The Philippine economy is likely to be resilient to higher US levies but faces the risk of lower foreign investments amid the global uncertainty, according to S&P Global Ratings.

Trump says the tariff on Philippine exports to the US is necessary to address what he calls Washington’s ‘unsustainable’ trade deficit.

President Trump posted letters to his Truth Social platform Wednesday outlining tariff levels for seven countries. Trump said he would levy 30% tariffs on Libya, Iraq, and Algeria, effective Aug. 1. Moldova and Brunei will get 25% tariffs,

The global tariffs announced by US President Donald Trump in April triggered “strong” investor interest in the Philippines, which was threatened with a lower levy than most neighbors, a top trade official said.

United States President Donald Trump has issued a new round of tariff letters to eight countries, including Brazil, Sri Lanka, Algeria, Brunei, Iraq, Libya, Moldova and the Philippines.

Philippines may be “less affected” by US President Donald Trump’s decision to slap a 20 percent tariff on all Philippine exports, although uncertainty surrounding the policy is likely to weigh on investor sentiment and delay growth-related decisions.