logo
Trump says US, Philippines ‘very close' to finalising trade deal

Trump says US, Philippines ‘very close' to finalising trade deal

CNA4 days ago
WASHINGTON: US President Donald Trump said on Tuesday (Jul 22) that Washington and Manila were nearing completion of a 'big' trade agreement, as he welcomed Philippine President Ferdinand Marcos Jr. to the White House.
'We're going to talk about trade today and we are very close to finishing a trade deal, a big trade deal actually,' Trump told reporters at the start of the meeting.
Marcos is the first Southeast Asian leader to meet Trump during his second term. The visit comes as the US looks to strengthen regional ties amid its ongoing strategic competition with China.
TARIFF TALKS
Trump said the two countries 'do a lot of business' together and expressed surprise at the 'very big numbers' in bilateral trade, which he said would only grow under a trade pact.
The United States recorded a US$4.9 billion trade deficit with the Philippines last year on two-way goods trade totalling US$23.5 billion. Earlier this month, Trump increased proposed 'reciprocal' tariffs on Philippine imports to 20 per cent, up from 17 per cent in April.
The US president has already concluded trade deals with Vietnam and Indonesia, Manila's regional neighbours, but has taken a tough stance even with close allies. Vietnam agreed to a 20 per cent baseline tariff on its goods, while Indonesia settled at 19 per cent.
Gregory Poling, a Southeast Asia expert at the Center for Strategic and International Studies in Washington, said Marcos might be able to secure better terms than those reached by Vietnam and Indonesia.
MILITARY TIES, BUSINESS TALKS
Trump also highlighted the significance of the US-Philippine defence relationship, calling the Philippines 'a very important nation militarily'.
'We've had some great drills lately,' he added.
Marcos arrived in Washington on Sunday and met with US Defence Secretary Pete Hegseth at the Pentagon on Monday. He also held talks with Secretary of State Marco Rubio.
During his visit, the Philippine leader is scheduled to meet with American business leaders investing in the Philippines.
Philippine officials say Marcos will emphasise that bolstering Manila's economy is essential for it to serve as a strong US partner in the Indo-Pacific.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump hits Scottish golf course as protesters set to rally
Trump hits Scottish golf course as protesters set to rally

Straits Times

timean hour ago

  • Straits Times

Trump hits Scottish golf course as protesters set to rally

Find out what's new on ST website and app. US President Donald Trump (left) and his son Eric at Mr Trump's Turnberry golf resort in Scotland on July 26. Turnberry, Scotland - US President Donald Trump played golf on the first full day of his visit to Scotland on July 26, as protesters prepared to take to the streets across the country. Mr Trump emerged from his Turnberry resort with son Eric and waved to photographers following his arrival in Scotland on July 25 evening. His presence has turned the picturesque and normally quiet area of southwest Scotland into a virtual fortress, with roads closed and police checkpoints in place. Officers on quad bikes or horses, others on foot with sniffer dogs, patrolled the famous course – which has hosted four men's British Opens – and the sandy beaches and grass dunes that hug the course. The 79-year-old touched down July 25 at nearby Prestwick Airport , as hundreds of onlookers came out to see Air Force One and try to catch a glimpse of its famous passenger. The president has professed a love of Scotland, where his mother was born, but his controversial politics and business investments in the country have made for an uneasy relationship. Speaking to reporters on the tarmac, Mr Trump immediately waded into the debate surrounding high levels of irregular migration. Top stories Swipe. Select. Stay informed. Singapore Students hide vapes in underwear, toilet roll holders: S'pore schools grapple with vaping scourge Singapore 'I've tried everything': Mum helpless as son's Kpod addiction spirals out of control Singapore Almost half of planned 30,000 HDB flats in Tengah to be completed by end-2025: Chee Hong Tat Singapore From libraries to living rooms: How reading habits take root in underserved S'pore children Asia Johor faces healthcare worker shortage amid population boom, pull of higher Singapore salaries Asia Death toll climbs as Thai-Cambodia clashes continue despite calls for ceasefire Asia Thousands rally in downtown Kuala Lumpur for resignation of PM Anwar Asia Shunsaku Tamiya, who brought perfection to plastic race car models, dies at 90 'You better get your act together or you're not going to have Europe anymore,' he said, adding that it was 'killing' the continent. Mr Trump's five-day visit has divided the local community. 'A lot of people don't trust Trump and I'm one of them. I think the man is a megalomaniac,' retiree Graham Hodgson said. 'He's so full of himself. I think he's doing a lot of damage worldwide with his tariffs. And I think it's all for the sake of America, but at the moment I think America is paying the price as well for his policies.' But at Prestwick Airport a boy held a sign that read 'Welcome Trump' while a man waved a flag emblazoned with his most famous slogan – 'Make America Great Again'. 'I think the best thing about Trump is he's not actually a politician yet he's the most powerful man in the world and I think he's looking at the best interests of his own country,' said 46-year-old Lee McLean, who had travelled from nearby Kilmarnock. 'Most politicians should really be looking at the best interests of their own country first before looking overseas,' he said. As the police rolled out a massive security operation, the Stop Trump Coalition announced demonstrations on July 26 near the US consulate in Edinburgh and another in Aberdeen, where Trump owns another golf resort. Police are also monitoring any other protests that might spring up near Turnberry. Mr Trump has no public meetings in the diary for July 26, but he is due to discuss trade with EU chief Ursula von der Leyen on July 27 and meet UK Prime Minister Keir Starmer. AFP

South Korea seeks mutually agreeable US trade package as Aug 1 tariff deadline looms
South Korea seeks mutually agreeable US trade package as Aug 1 tariff deadline looms

CNA

time3 hours ago

  • CNA

South Korea seeks mutually agreeable US trade package as Aug 1 tariff deadline looms

SEOUL: South Korea will prepare a trade package that is mutually agreeable with the United States ahead of minister-level meetings planned next week and a US tariff-pause deadline of Aug 1, the presidential office said on Saturday (Jul 26). The package will include shipbuilding cooperation, a sector of high interest to US Commerce Secretary Howard Lutnick, who discussed the matter with South Korea's Industry Minister Kim Jung-kwan on Friday, it said in a statement. Friday's meeting was a follow-up to a meeting on Thursday, where Lutnick and Kim reaffirmed their commitment to reach a trade deal by Aug 1, after a joint meeting of finance ministers and top trade envoys that had been scheduled for Friday was postponed. South Korea, facing 25 per cent tariffs, is rushing to reach a trade deal with Washington, with National Security Adviser Wi Sung-lac visiting the US recently for high-level talks and Minister for Trade Yeo Han-koo also in the US for negotiations, as pressure grows on officials to clinch a deal that is no worse than Japan's that cut tariffs to 15 per cent. South Korea's trade negotiations with the US have included non-tariff barriers in the agricultural and digital service sectors, but foreign exchange has not been part of trade talks beyond usual consultations, according to South Korean officials. US President Donald Trump arrived in Scotland on Friday for bilateral talks with European Commission President Ursula von der Leyen on Sunday, which could yield a trade deal with the European Union, after making a deal earlier this week with Japan and the Philippines. Next week, US officials will hold a new round of trade talks with China in Sweden for an extension to a separate deadline of Aug 12 set between the two countries. South Korea's Finance Minister Koo Yun-cheol and Foreign Minister Cho Hyun will also hold meetings with US Treasury Secretary Scott Bessent and State Secretary Marco Rubio, respectively, next week.

Thousands rally in Kuala Lumpur to protest Malaysia PM Anwar's leadership
Thousands rally in Kuala Lumpur to protest Malaysia PM Anwar's leadership

CNA

time3 hours ago

  • CNA

Thousands rally in Kuala Lumpur to protest Malaysia PM Anwar's leadership

KUALA LUMPUR: Thousands of Malaysians took to the capital's streets on Saturday (Jul 26) to protest rising living costs and a perceived lack of reform by Prime Minister Anwar Ibrahim's unity government. The rally organised by opposition parties marked the first major protest in Southeast Asia's sixth-largest economy since Anwar was propelled to power after general elections in 2022. Protesters gathered at various points around the city centre before converging on the city's central Dataran Merdeka, a square commemorating the country's independence, carrying placards saying "Turun Anwar" - "step down Anwar" in Malay - while police kept a close eye. "He (Anwar) has already governed the country for three years and has yet to fulfil the promises he made," said protester Fauzi Mahmud, 35, from Selangor just outside the capital. Anwar "has been to many countries to bring investments, but we have yet to see anything," Fauzi told AFP, referring to the premier's recent trips, including to Russia and Europe. "The cost of living is still high," the engineer said. Anwar was appointed prime minister on a reformist ticket and promised to tackle graft, nepotism and cronyism within the Southeast Asian nation's fractured political system. Days ahead of the rally, he laid out a string of populist measures aimed at addressing concerns, including a cash handout for all adult citizens and a promise to cut fuel prices. Anwar on Wednesday announced that Malaysians above 18 years will receive a one-off payment of RM100 (US$23.70), to be distributed from Aug 31. He added that about 18 million Malaysian motorists will be eligible to purchase heavily subsidised medium-octane fuel at RM1.99 per litre, compared to the current price of RM2.05.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store