Trump: Marcos a strong negotiator; US, PH may agree on tariff rate
"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 his meeting with the Philippine leader.
Marcos is the first Southeast Asian leader to meet Trump in his second term. Trump has already struck trade deals with two of Manila's regional partners, Vietnam and Indonesia, but had been driving tough bargains in talks even with close allies Washington needs to keep onside in its strategic rivalry with China.
Asked about the discussions on the reciprocal tariffs on imports from the Philippines, which Trump raised to 20 percent from 17 percent, the US leader said, 'So far we're not there because he's negotiating too tough," adding Marcos is a "strong negotiator."
'We'll probably agree to something,' Trump added.
The United States had a deficit of nearly $5 billion with the Philippines last year on bilateral goods trade of $23.5 billion. Trump this month raised the threatened "reciprocal" tariffs on Philippine imports to 20% from 17% threatened in April.
Trump said the two countries did "a lot of business" with each other, saying he was surprised to see what he called "very big numbers" that would only grow under a trade agreement.
Gregory Poling, a Southeast Asia expert at Washington's Center for Strategic and International Studies, said Marcos might be able to do better than Vietnam, with its agreement of a 20% baseline tariff on its goods, and Indonesia at 19%.
Trump underscored the importance of the U.S.-Philippine military relationship.
"They're a very important nation militarily, and we've had some great drills lately," he said.
Marcos, who arrived in Washington on Sunday, went to the Pentagon on Monday for talks with Defense Secretary Pete Hegseth and later met with Secretary of State Marco Rubio. During his trip, he will also meet U.S. business leaders investing in the Philippines.
Philippine officials say Marcos will stress that Manila must become economically stronger if it is to serve as a truly robust U.S. partner in the Indo-Pacific.
Philippine Assistant Foreign Secretary Raquel Solano said last week trade officials have been working with U.S. counterparts seeking to seal a "mutually acceptable and mutually beneficial" deal.—Reuters/GMA Integrated News
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
5 hours ago
- GMA Network
P20/kilo rice, farm to market roads remain work in progress
In his 2024 State of the Nation Address, President Ferdinand Marcos Jr. highlighted the hardships confronting the Filipinos due to the rising prices of food. "The hard lesson of this last year has made it very clear that whatever current data proudly bannering our country as among the best-performing in Asia, means nothing to a Filipino, who is confronted by the price of rice at 45 to 65 pesos per kilo," Marcos had said in his report to the nation last year. Back then, the price of rice per kilo was far from the P20 per kilo he had promised the Filipinos when he campaigned for the presidency in 2022. But the efforts of Marcos, who sat as Agriculture secretary from July 2022 to November 2023, could not be ignored to achieve his P20 per kilo rice goal. The government, through the Department of Agriculture (DA), has been consistently opening Kadiwa stores that sell rice at P20 per kilo. Marcos also vowed to prioritize enhancing local production to address the high food cost and build the necessary infrastructure to prop up agricultural productivity and assist farmers. He had said in his SONA that a total of 1,200 kilometers of farm-to-market roads all over the country will be completed. Further, Marcos said over 9,300 farm equipment would be distributed and more than 80,000 hectares of land would be irrigated. The projects remain in the works. In his visit to Balingasag, Misamis Oriental in April 2025, Marcos reported that in Region X (Northern Mindanao), the government was able to construct almost 70 kilometers of farm-to-market roads. "Sa buong bansa, umabot na sa 1,162 kilometro ang naitayo nating mga daan, at higit 865 linyang-metro naman ng tulay," he said. Since his presidency, Marcos said 36,000 pieces of machinery and agricultural equipment had been distributed to farmers' cooperatives and associations for post-harvest. While under the Rice Competitiveness Enhancement Fund, 12,000 pieces of machinery and equipment had been provided from July 2022 up to March 2025. A month before Marcos' fourth State of the Nation Address, the Economy and Development (ED) Council, formerly known as the NEDA (National Economic and Development Authority) Board, approved the P27.7-billion Farm-to-Market Bridges Development Program of the Department of Agriculture. Under the program, the DA said it aims for the construction of 300 climate-resilient modular steel bridges across 52 provinces in 15 regions. 'By improving physical connectivity in farming and fishing communities, the Farm-to-Market Bridges Development Program addresses persistent infrastructure gaps that limit market access, increase post-harvest losses, and hinder rural productivity," said ED Council vice chairperson and Economics Secretary Arsenio Balisacan. "It also aims to uplift rural incomes and improve food logistics, particularly in geographically isolated and disadvantaged areas,' Balisacan added. The Agriculture Department also reported that it had completed over 450 agri-infrastructure projects, including farm-to-market roads, fish ports, and food storage facilities. Further, agriculture insurance now protects more than 1.3 million farmers, livestock raisers, and fishers. 'Through the Masagana Rice Industry Development Program, aligned yields have improved from 3.3 to 4.2 metric pounds per hectare, with the first quarter yields again at 4.09 metric pounds. We are also expanding value-chain innovation,' said DA Secretary Francisco Tiu Laurel in a speech, as delivered by Agriculture Director Karen Roscom in a summit in Manila. Benefits A number of farmers expressed relief with the administration's efforts, saying that farm-to-market roads are a long-awaited solution. 'Mahalaga para sana may madaanan kami at mayroon kaming mapagbiladan ng palay namin,' said Robert Lopez, a rice farmer in Mangaldan, Pangasinan, in a report by GMA Regional TV. (It is vital so that we can have paved roads for our goods and an area for drying palay.) Approved by the DA, the local government in Mangaldan and the barangay, a farm-to-market road is set to connect Barangays Guilig, Malabago, and Bari. Initial groundwork, such as soil filling, has already begun. Guilig Councilman Louie Prestoza said the project, which is estimated to reach P3 million, will make it more convenient for farmers to transport their goods and will serve as an alternate route for public and private vehicles in the area. 'Hindi lang kami dito ang mabebenepisyuhan. Marami, kahit na taga-ibang lugar,' Prestoza said. (It is not just us here who will benefit. Many more residents, even from other places.) P20 per kilo of rice Marcos' campaign promise of P20 per kilo of rice has been initially implemented in the Visayas region, and is set to be rolled out across the country in the coming months. The second phase of the program commenced this July in the Mindanao region. Marcos said it took time for him to fulfill his promise because the government needs to assist the local farmers first, including the provision of machinery. The P20 per kilo rice initiative under the Kadiwa ng Pangulo program only allows members of vulnerable sectors—including indigents, senior citizens, persons with disabilities, and solo parents to buy NFA rice at P20 per kilogram. Moreover, it can also be availed by minimum wage earners. Marcos expressed confidence that his administration could sustain its implementation. Increasing prices of goods With the price of some goods increasing, Marcos said the government is also monitoring "price gouging" in the consumer market. "Iyon lamang binabantayan natin ngayon 'yung price gouging. Dahil ang dami ko nang nakita nagtataas ng presyo, hindi naman tumaas ang presyo ng langis. So, iyon ang babantayan natin ngayon. That's what we are going to watch," he said. (We're monitoring the price gouging. Because I've seen a lot of price hikes even though fuel prices have not increased. So that's what we will monitor right now. That's what we are going to watch.) Farmers However, the progressive group Kilusang Magbubukid ng Pilipinas (KMP) said that farmers and fisherfolk remain waiting for the fulfilment of the President's SONA promises. KMP chairperson Danilo Ramos lamented that majority of the Filipino farmers do not own the land they till, and continue to lose it due to land conversion. He also said the people in other areas of the country await the affordable rice promised by Marcos. Ramos said they also continue to long for the day when the country would be rice self-sufficient and would no longer need to buy imported rice.—LDF/RSJ, GMA Integrated News
GMA Network
10 hours ago
- GMA Network
Israel and US recall teams from Gaza truce talks
File photo shows an Israeli APC maneuvering in Gaza, as seen from the Israeli side of the Israel-Gaza border, July 21, 2025. REUTERS/Amir Cohen JERUSALEM/CAIRO — Israel and the United States recalled their delegations from Gaza ceasefire talks for consultations on Thursday, with US envoy Steve Witkoff accusing the Palestinian militant group Hamas of failing to act in good faith in the talks. It marked the latest setback in efforts to secure a deal that would bring a ceasefire to Gaza, secure the release of Israeli hostages held by Hamas, and bring respite to Palestinians suffering a sharply worsening humanitarian crisis. Witkoff said mediators had made a great effort but "Hamas does not appear to be coordinated or acting in good faith." "We will now consider alternative options to bring the hostages home and try to create a more stable environment for the people of Gaza," he wrote on X. Hamas said it was surprised by Witkoff's remarks, adding that the group's position had been welcomed by mediators and had opened the door to reaching a comprehensive agreement. "The movement affirms its keenness to continue negotiations and engage in them in a manner that helps overcome obstacles and leads to a permanent ceasefire agreement," Hamas added in a statement early on Friday. An Israeli official with knowledge of the talks said Hamas' response to the latest ceasefire proposal "does not allow for progress without a concession" by the group but that Israel intended to continue discussions. Both Israel and Hamas are facing pressure at home and abroad to reach a deal following almost two years of war, with the humanitarian situation inside Gaza deteriorating and Israelis worried about the conditions in which hostages are being held. Dozens of people have starved to death in Gaza the last few weeks as a wave of hunger crashes on the enclave, according to local health authorities. British Prime Minister Keir Starmer said the suffering and starvation in Gaza was an "unspeakable and indefensible" humanitarian catastrophe and called on Israel to urgently let in aid. "While the situation has been grave for some time, it has reached new depths and continues to worsen. We are witnessing a humanitarian catastrophe," Starmer said in a statement. He will hold an emergency call with French and German partners on Friday to discuss what could be done to "stop the killing and get people the food they desperately need," he said. The Gaza health ministry said two more people had died of malnutrition. The head of Shifa Hospital in Gaza City said the two were patients suffering from other illnesses who died after going without food for several days. Earlier in the day, there had been some apparent signs of progress in the mediation. A senior Hamas official told Reuters that there was still a chance of reaching a ceasefire deal but it would take a few days because of what he called Israeli stalling. A senior Israeli official had been quoted by local media as saying the new text was something Israel could work with. But, Israel's Channel 12 said a rapid deal was not within reach, with gaps remaining between the two sides, including over where the Israeli military should withdraw to during any truce. Witkoff's team did not immediately respond to a request to explain the Hamas demands that led to his withdrawal of the US negotiators. The Hostages Families Forum, representing the family members of those held in Gaza, expressed concern at the recall of the Israeli team. "Each day that passes endangers the hostages' chances of recovery and risks losing the ability to locate the fallen or gain vital intelligence about them," it said. Pepper spray fired at aid site Women going to fetch aid for their families on Thursday said US contractors organizing distribution asked them to come to pick up goods and then fired tear gas and pepper spray at them. "The Americans said 'go, go', and then said no, get back. They sprayed us with pepper spray so we went away. Five minutes later they shot tear gas at us ... is this American humanitarian aid?" said Mervat al-Sakani. Asked for comment, a spokesperson for the aid organization - the Gaza Humanitarian Foundation - said a limited amount of pepper spray was used 'to prevent civilian injury due to overcrowding', adding that GHF 'didn't want people to get hurt.' The spokesperson said women-only aid distribution had been "a major success" overall. GHF, a US-and Israeli-backed organization, began distributing food packages in Gaza at the end of May. The UN has called the GHF's model unsafe and a breach of humanitarian impartiality standards, which GHF denies. The UN rights office said on July 15 it had recorded at least 875 killings within the preceding six weeks in the vicinity of aid sites and food convoys in Gaza - the majority of them close to GHF distribution points. Most of those deaths were caused by gunfire that locals have blamed on the Israeli military. The military has acknowledged that civilians were harmed, saying that Israeli forces had been issued new instructions with "lessons learned." Israel, which cut off all supplies to Gaza from the start of March and reopened it with new restrictions in May, says it is committed to allowing in aid but must control it to prevent Hamas diverting it. Israel says it has let in enough food for Gazans, and blames the United Nations for being slow to deliver it; the UN says it is operating as effectively as possible under conditions imposed by Israel. The war began when Hamas killed some 1,200 people and took 251 hostages in its October 7 attacks on Israel, according to Israeli tallies. Israel has since killed nearly 60,000 Palestinians in Gaza, according to Gaza health authorities. — Reuters
GMA Network
19 hours ago
- GMA Network
A look back at Maharlika Fund two years later
Once hailed as a key economic priority of President Ferdinand 'Bongbong' Marcos Jr., the Maharlika Investment Fund (MIF) was a key point in his 2023 State of the Nation Address (SONA), only to be noticeably missing in his 2024 speech, raising questions about its progress. The Philippines' first sovereign wealth fund was signed into law in July 2023 through Republic Act No. 11954, establishing the Maharlika Investment Corporation (MIC)—the state-run entity tasked with managing the fund and investing government assets to generate additional public revenue. 'For strategic financing, some of the nation's high-priority projects can now look to the newly established Maharlika Investment Fund, without the added debt burden,' Marcos said in his SONA in 2023. 'In pooling a small fraction of the considerable but underutilized government funds, the Fund shall be used to make high-impact and profitable investments, such as the Build-Better-More program. The gains from the Fund shall be reinvested into the country's economic well-being,' he added. Under the law, the MIC was granted an authorized capital stock of P500 billion, with P375 billion in common shares available for subscription by the national government, its agencies or instrumentalities, government-owned and -controlled corporations (GOCCs), and government financial institutions (GFIs). In November 2023, Rafael Consing — former executive director of the Office of the Presidential Adviser for Investment and Economic Affairs — was appointed as MIC president and chief executive officer. First moves After being skipped in the 2024 SONA, the MIC has made a handful of developments. With just days before the President makes a report to the nation next Monday, July 28, GMA News Online looked at what the MIC has accomplished so far. In January 2025, the MIC made its first investment by acquiring a 20% stake in Synergy Grid and Development Philippines Inc. (SGP), gaining two board seats in the company and another two in the National Grid Corporation of the Philippines (NGCP). A month later the MIC signed a memorandum of understanding (MOU) with Thai conglomerate Charoen Pokphand Group Co. Ltd. (CP Group) that would provide for the establishment of a private equity fund with a capital target of up to $1 billion. 'This partnership will lay the groundwork for a multi-sectoral investment initiative that will drive long-term economic growth while reinforcing the Philippines' position as a premier investment destination,' Consing said in February. Under the agreement, a steering committee would drive project selection, fund structuring, and investor engagement, with the first capital close expected within the next nine to 12 months. Key investment areas include agri-food modernization, digital and e-commerce expansion, and sustainable energy and infrastructure. That same month, the MIC inked another agreement — a $76.4-million bridge loan facility to Makilala Mining Company Inc. (MMCI), the Philippine affiliate of Australia-based Celsius Resources Limited that operates copper and gold projects in the country. 'Our investment decision reflects a shared commitment to the sustainable, inclusive, and regenerative development of the MCB Project,' Consing said. The loan is intended to finance early-stage development works for the Maalinao-Caigutan-Biyog Copper-Gold Project (MCB) in Kalinga. This includes updating MMCI's front-end engineering design (FEED), constructing a main access road in collaboration with the Kalinga Provincial Government, and funding skills-based training for the indigenous community. Under the agreement, the facility will be split into two tranches — the first will be available nine months from signing, and the second subject to the completion of the FEED and an updated feasibility study, up to 24 months from signing. The loan carries a 12.5% fixed interest rate compounded quarterly, and gives MIC a right of first offer on any sale or transfer of MMCI's assets and/or shares. In May, the MIC then said it was in preliminary talks with Dubai Ports World to pursue logistics development projects in the Philippines, with an internal study underway to determine how much investments are needed for local port development. Most recently, this July, the MIC signed an MOU with the Department of Information and Communications Technology (DICT) to invest in 'critical digital infrastructure projects' aimed at delivering long-term returns and supporting inclusive growth across geographically isolated and disadvantaged areas (GIDAs). 'By prioritizing digital infrastructure today, we are not only enabling inclusive growth and innovation but also securing opportunities for future generations of Filipinos. Maharlika is proud to play a key role in shaping a more connected, future-ready Philippines,' Consing said. While these developments mark a starting point for the MIC, the agency has yet to announce additional deals. Investment process According to the MIC, its due diligence process to evaluate and select investments includes economic assessment on the broader economic impact and alignment with strategic goals, along with financial assessment on the viability and potential returns of the investment. It also takes into account operational assessment of the feasibility and management capabilities of the investment, sustainability assessment on the environmental and social impact, and legal assessment on compliance with legal and regulatory requirements. Investment proposals are initially reviewed by the Investment Committee, before being presented to the Board for final approval. At the helm of these decisions is the MIC Board, composed of representatives from both the government and the private sector. It is currently chaired by Finance Secretary Ralph Rector and vice-chaired by MIC president and CEO Consing. It counts as members Land Bank of the Philippines president and CEO Ma. Lynette Ortiz, Development Bank of the Philippines president and CEO Michael de Jesus, and independent directors Stephen Anthony CuUnjieng, German Lichauco II, and Roman Felipe Reyes. Moving forward, investors and stakeholders are awaiting whether it will reclaim a spot in Marcos' SONA on July 28, or continue to operate in the background.—BM/LDF/NB, GMA Integrated News
