Philippines seeks economic strength as Marcos heads to US for Trump talks
Philippines hopes to secure a trade agreement with the US when President Ferdinand Marcos Jnr discusses a planned US tariff during his meeting with President Donald Trump in Washington, according to a Manila official.
Marcos will also seek to bolster US-Philippine security ties during his July 20-22 visit, Foreign Affairs Assistant Secretary for American Affairs Raquel Solano said at a briefing on Friday.
The trip by Marcos, set to be the first Southeast Asian leader to visit
Trump during his second presidency, comes after the Trump administration increased the tariff on Philippine goods to the US to 20 per cent from 17 per cent starting in August, raising concern from its long-time ally.
Ahead of Marcos, Philippine government officials including Trade Secretary Cristina Roque flew to Washington this week for tariff talks. 'We hope of course to arrive at a bilateral trade agreement or a deal on reciprocal trade that is mutually acceptable, mutually beneficial for both our countries,' Solano said.
The Philippines initially held trade talks with the US in May in its bid to lower an earlier threatened 17 per cent levy in April. To secure that, Roque had said Manila plans to increase imports of US farm goods, including soybeans and frozen meat, and boost exports of semiconductors, coconut and mango products to the US.
09:23
History, money and military: why the South China Sea is so important to Beijing
History, money and military: why the South China Sea is so important to Beijing
'We will continue to underscore that for the Philippines to be a truly strong partner for the United States, we need to be stronger economically as well,' Solano said. Trump and Marcos will discuss 'closer cooperation in economic, defence and security matters of common interest,' she added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
3 hours ago
- South China Morning Post
Xi Jinping and Vladimir Putin discuss Ukraine war ahead of expected US-Russia summit
Chinese President Xi Jinping held a phone call with his Russian counterpart Vladimir Putin on Friday ahead of an expected summit between Putin and US President Donald Trump. Advertisement Putin briefed Xi on the recent communication between Russia and the United States and said Russia was ready to keep close communication with China, according to state broadcaster CCTV. Xi said China welcomed continued contact between Russia and the US to improve their relations and to push towards a political solution to the Ukraine crisis. Xi said complicated issues did not have a simple solution. He added that China would continue its long-standing position of supporting talks to resolve regional conflicts. The state broadcaster also quoted Putin as reaffirming that the comprehensive strategic partnership of coordination between China and Russia 'would not change under any circumstances'. 02:08 Trump threatens Russia with 100% 'secondary' tariffs if no deal on Ukraine ceasefire Trump threatens Russia with 100% 'secondary' tariffs if no deal on Ukraine ceasefire The Kremlin said on Thursday that Putin and Trump had agreed to meet in the 'coming days' to discuss ending the war in Ukraine.
South China Morning Post
3 hours ago
- South China Morning Post
The behaviour of Donald Trump is making Brics great again
Western critics used to claim Brics had no ideological coherence or sense of mission, and was little better than a talking shop. But that grouping of nations is becoming more cohesive and powerful, not least because of Western pressure. Donald Trump, for one, has been driving them ever closer and giving them a common purpose – to resist Washington's economic coercion by developing their own trade and financial systems. Brazil, Russia, India, China and South Africa, among other Brics partnering states, now have every reason to stick together, lest Trump finishes them off one by one with his universal tariffs, or even a shooting war. Thanks to the US president, Brazilians are today more united in their anti-American nationalism than ever before. Trump has imposed punishing 50 per cent tariffs and sanctioned a senior Brazilian judge who presides over the trial of far-right former president Jair Bolsonaro, whom he considers a friend and ally. Trump has admitted the high tariffs were imposed not because of trade, but to punish Brasilia for 'politically persecuting a former president of Brazil' and for 'contributing to the deliberate breakdown in the rule of law'. But unlike Canada and Mexico, Brazil is far less dependent on the US market, which accounts for only 12 per cent of its exports. By contrast, 28 per cent of Brazilian exports go to China. Bolsonaro is on trial for plotting a coup in the wake of his electoral defeat in October 2022, not unlike the coordinated Capitol insurrection on January 6, 2021. Washington's charge about 'the breakdown in the rule of law' seems doubly ironic as the rule of law is actually working fine in Brazil, but not so much in the US; Trump was never held legally liable for January 6.
South China Morning Post
4 hours ago
- South China Morning Post
Why Trump's Federal Reserve pick is raising alarm over central bank's independence
US President Donald Trump's nomination of his top economic adviser to the Federal Reserve Board could strengthen the White House's influence over the central bank and deepen concerns over its independence, analysts said. Stephen Miran, chairman of the Trump administration's Council of Economic Advisers and an architect of its tariff policy, will be nominated to temporarily fill a vacant seat on the Federal Reserve's board of governors, the US president announced Thursday on social media. Analysts warned the move could put further pressure on Fed chairman Jerome Powell and increase the chances of an interest rate cut in September – a shift pushed by Trump that could impact global markets. The nomination, now subject to Senate approval, came amid an ongoing tug-of-war between Trump and Powell over interest rates. Miran has previously proposed sweeping reforms to the central bank. 'He [Miran] could be a shadow over Powell,' said Alicia Garcia-Herrero, chief economist for the Asia-Pacific region at French investment bank Natixis, referring to the Trump administration official's previous criticism of Powell over the Fed's decision to maintain interest rates. 'He's not only aiming to be nominated. He's aiming to change the charter of the Fed. So that's why this is a big issue,' she said.
