Philippines' Marcos says China 'misinterpreted' his comments on Taiwan
China accused Marcos of "playing with fire" after the Philippine leader said during a visit to India that "there is no way that the Philippines can stay out of it" due to its proximity to the democratically governed island.
"We are, I think for propaganda purposes, misinterpreted," Marcos told a press briefing.
"I'm a little bit perplexed why it would be characterized as such, as playing with fire," he added.
China's embassy in Manila did not immediately respond to a request for comment.
Marcos said Filipinos working and living in Taiwan will have to be evacuated if a conflict does arise but maintained that he wishes to avoid confrontation and war.
Over a hundred thousand Filipinos live and work in Taiwan, according to Philippine government data.
"War over Taiwan will drag the Philippines kicking and screaming into the conflict. That is what I was trying to say," Marcos said.
Marcos' comments come at a time of heightened tensions between Manila and Beijing over territorial disputes in the South China Sea.
A 2016 ruling of an international arbitral tribunal voided Beijing's sweeping claims in the region, saying they had no basis under international law, a decision China rejects.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
11 minutes ago
- Reuters
Trump signs order extending China tariff truce by 90 days, White House says
WASHINGTON, Aug 11 (Reuters) - U.S. President Donald Trump has signed an executive order extending a tariff truce with China by another 90 days, a White House official said on Monday with only hours to go before U.S. tariffs on Chinese goods were due to snap back to triple-digit rates. The order followed a noncommittal answer by Trump to reporters as to whether he would extend the lower tariff rates a day after he urged Beijing to quadruple its purchases of U.S. soybeans. A tariff truce between Beijing and Washington was set to expire on Tuesday at 00:01 ET (04:01 GMT). The order prevents U.S. tariffs on Chinese goods from shooting up to 145%, with Chinese tariffs on U.S. goods set to hit 125%, rates that would have resulted in a virtual trade embargo. "We'll see what happens," Trump told a press conference, when asked how he planned to extend the deadline. "They've been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself." Imports from China are currently subject to 30% tariffs, including a 10% base rate and 20% in fentanyl-related tariffs imposed by Washington in February and March. China had matched the de-escalation, lowering its rate on U.S. imports to 10%. The two sides in May announced a truce in their trade dispute after talks in Geneva, Switzerland, agreeing to a 90-day period to allow further talks. They met again in Stockholm, Sweden in late July, but did not announce an agreement to further extend the deadline. Kelly Ann Shaw, a senior White House trade official during Trump's first term and now with Akin Gump Strauss Hauer & Feld, said she expected Trump to extend the 90-day "tariff détente" for another 90 days later on Monday. "It wouldn't be a Trump-style negotiation if it didn't go right down to the wire," she said, adding Trump could also announce progress in other aspects of the economic relationship as a backdrop for granting the extension. "The whole reason for the 90-day pause in the first place was to lay the groundwork for broader negotiations and there's been a lot of noise about everything from soybeans to export controls to excess capacity over the weekend," she said. Ryan Majerus, a former U.S. trade official now with the King & Spalding law firm, welcomed the news. 'This will undoubtedly lower anxiety on both sides as talks continue, and as the U.S. and China work toward a framework deal in the fall. I'm certain investment commitments will factor into any potential deal, and the extension gives them more time to try and work through some of the longstanding trade concerns," he said. The White House declined to comment beyond Trump's remarks. The Treasury Department and U.S. Trade Representative's Office did not respond to requests for comment. U.S. Treasury Secretary Scott Bessent has said Washington has the makings of a deal with China and he was "optimistic" about the path forward. Trump pushed for additional concessions on Sunday, urging China to quadruple its soybean purchases, although analysts questioned the feasibility of any such deal. Trump did not repeat the demand on Monday. But Washington has also been pressing Beijing to stop buying Russian oil, with Trump threatening to impose secondary tariffs on China.
Reuters
13 minutes ago
- Reuters
Trump signs order extending China tariff deadline for 90 days, official says
WASHINGTON, Aug 11 (Reuters) - U.S. President Donald Trump has signed an executive order extending a pause in sharply higher U.S. tariffs on Chinese imports for another 90 days, a White House official said. A tariff truce between Beijing and Washington had been set to expire on August 12 at 00:01 (04:01 GMT), but the Trump administration had hinted the deadline could be extended.
Reuters
an hour ago
- Reuters
Wall Street stocks ease, chip sector wobbles after China sales deal
Aug 11 (Reuters) - Wall Street's main indexes were down on Monday as investors await inflation data this week and chip companies seesawed after agreeing to share a portion of revenue from China sales with the U.S. under a trade policy shift from the Trump administration. Nvidia (NVDA.O), opens new tab was flat after reversing premarket losses, and Advanced Micro Devices (AMD.O), opens new tab was up 0.5% in volatile trading. A U.S. official told Reuters the semiconductor majors had agreed to give the United States government 15% of revenue from sales of their advanced chips to China. Analysts said the levy could hit the chipmakers' margins and set a precedent for Washington to tax critical U.S. exports, potentially extending beyond semiconductors. "A lot of people are not sure what to make of that because this is the first time in history that it's ever happened where an administration wants a percentage of the profits from a publicly traded company," said Michael Matousek, head trader at U.S. Global Investors. Enabling semiconductor sales to China was an integral issue in the agreement Washington and Beijing signed this year, which expires on Tuesday. U.S. President Donald Trump lauded China's cooperation in talks at a White House press conference on Monday. At 2:01 p.m. ET (1801 GMT), the Dow Jones Industrial Average (.DJI), opens new tab fell 176.88 points, or 0.40%, to 43,998.91, the S&P 500 (.SPX), opens new tab lost 5.60 points, or 0.09%, to 6,383.93, and the Nasdaq Composite (.IXIC), opens new tab lost 12.87 points, or 0.06%, to 21,437.15. Traders took a step back after the S&P 500 (.SPX), opens new tab and the Nasdaq (.IXIC), opens new tab last week logged their strongest weekly performances in more than a month. On Monday, the tech-heavy Nasdaq was on track for its third consecutive record closing high, if gains hold. Investors expect the recent shakeup at the U.S. Federal Reserve and signs of labor market weakness could nudge the central bank into adopting a dovish monetary policy stance later this year, fueling much of the optimism. July's consumer inflation report is due on Tuesday, and investors anticipate that the Fed will lower borrowing costs by about 60 basis points by December, according to data compiled by LSEG. "Markets are on rate watch, so anything inflation-related will move markets this week," said Jamie Cox, managing partner at Harris Financial Group. "It's all about three rate cuts versus two at this point." Citigroup and UBS Global Research became the latest brokerages to raise their year-end targets for the benchmark S&P 500. Micron Technology (MU.O), opens new tab raised its forecast for fourth-quarter revenue and adjusted profit, boosting its shares 3%. Intel (INTC.O), opens new tab was up 3.5% after a report said CEO Lip-Bu Tan was expected to visit the White House. Trump had called for his removal last week. TKO (TKO.N), opens new tab jumped 8.5% after Paramount (PSKY.O), opens new tab bought the rights from the live entertainment company to exclusively distribute UFC events for the next seven years in a deal valued at around $7.7 billion. Trump is expected to meet Russia's President Vladimir Putin on Friday to try and negotiate an end to Russia's war on Ukraine. Declining issues outnumbered advancers by a 1.11-to-1 ratio on the New York Stock Exchange. There were 203 new highs and 89 new lows on the NYSE. On the Nasdaq, declining issues outnumbered advancers by a 1.12-to-1 ratio. The S&P 500 posted 14 new 52-week highs and 15 new lows, while the Nasdaq Composite recorded 65 new highs and 98 new lows.
