Latest news with #Philippines-UnitedStates
GMA Network
6 days ago
- Business
- GMA Network
PH envoy says 19% tariff by Trump still 'subject to review'
The 19% tariff on Philippine goods earlier announced by US President Donald Trump is still subject to negotiations, Manila's top diplomat to Washington said Thursday. In a radio interview, Philippine Ambassador to Washington Jose Manuel Romualdez said bilateral talks will take place in Manila 'in the next couple of days' to finalize a trade deal. 'There's still room for negotiations,' Philippine Ambassador to Washington Jose Manuel Romualdez said in an interview on dzRH radio. Romualdez said US trade officials will be in Manila for a 'continuing meeting' with Philippine counterparts "hopefully within the next couple of days" to discuss the tariffs. 'We will clarify exactly what we need to finalize in our agreement,' he said. Lawmakers on Wednesday raised concerns about the new Philippines-United States trade deal, which imposes a 19% tariff on Philippine products entering the US against zero tariffs for at least some American exports to the Philippines. The deal was announced by Trump during Marcos' visit to the White House early Wednesday Philippine time. The new agreement reduces the earlier announced tariff for the Philippines of 20% by one percent. Marcos, who called the deal a "significant achievement," stressed that not all US goods will enjoy zero tariffs. When asked if the deal was more favorable to the US, Marcos replied, 'That's how negotiations go. Why the tariff went up from 17% to 20% is internal to the US government." —VAL, GMA Integrated News
GMA Network
6 days ago
- Business
- GMA Network
19% vs. 0%? Lawmakers question new PH-US tariff deal
President Ferdinand "Bongbong" Marcos Jr. meets with US President Donald Trump in the Oval Office at the White House in Washington, D.C., July 22, 2025. REUTERS/ Kent Nishimura Lawmakers on Wednesday raised concerns on the new Philippines-United States trade deal, which imposes a 19% tariff on Philippine products entering the US against zero tariffs for at least some American exports to the Philippines. 'We ask Malacañang to make public this new trade deal with the US so we can scrutinize its possible impact on the local economy. We are interested to know what US agricultural products, if any, will be covered by zero tariffs and how this may impact on our local farmers,' Senator Francis 'Kiko' Pangilinan said. The deal was announced by US President Donald Trump during President Ferdinand "Bongbong" Marcos Jr.'s visit to the White House early Wednesday Philippine time. The new agreement reduces the earlier announced tariff for the Philippines of 20% by one percent. Marcos, who called the deal a "significant achievement," stressed that not all US goods will enjoy zero tariffs. Other senators said the 19-0 disparity is too huge of a margin to be considered fair. '19% vs. 0% tariffs is definitely not the most fair deal between decades-old friends or allies like the United States and the Philippines. If I may add, it is the worst insult that a host can throw at his guest. It is time for us to look for other trade partners,' Senator Panfilo "Ping" Lacson said. 'Sobra ata tayong dehado. Akala ko ba 'little brown bro' ang turing sa atin ng mga Amerikano? Bakit tila lagi tayong naiisahan sa mga ganitong usapan? Sana ay gawing patas man lang kung tunay na kakampi ang tingin sa atin,' Senator JV Ejercito said. (We are too much at a disadvantage. I thought the Americans looked on us as their 'little brown bros'? Why does it seem we are always on the losing end in matters like this? They should at least make it even if they truly see us as an ally.) Senator Imee Marcos said the deal cannot be considered a win. 'I have yet to see the final agreement. However, a mere 1% reduction in tariff rates for Philippine goods while having zero tariffs for US goods certainly does not look like a win for the Philippines,' she said. Kabataan party-list Representative Renee Co, a lawyer, also said that flooding the country with American goods will not stir national development. 'The country is already deep in foreign debt, and now, we will be flooded with American goods because our President agreed to it. The government fails to strengthen our local industries because we just allow American goods to capture the lion's share of our market,' Co said. Senator Vicente "Tito" Sotto III gave the deal a good review. 'It carries direct benefits for our country,' he said. — BM, GMA Integrated News
UPI
22-07-2025
- Business
- UPI
Philippine President Marcos meeting with Trump at White House
July 22 (UPI) -- Philippine President Ferdinand R. Marcos Jr. will meet with President Donald Trump at the White House Tuesday to discuss U.S. tariffs and threats from China. The first such meeting by an Association of Southeast Asian Nations head of state with Trump since his return to the U.S. presidency, Marcos is expected to utilize his nation's strong relationship with the United States to improve the trade deal between the two countries. "The purpose of this visit is to further strengthen the Philippines-United States alliance, to proactively engage the U.S. in all aspects of the relations, and seize opportunities for greater security and economic cooperation," said Philippine Department of Foreign Affairs Assistant Secretary Raquel Solano in a press release. The Philippines, one of the many countries who face a tariff hike on Aug. 1, will be subject to a 20% levy as per the letter Trump sent out earlier this month. "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 added. Marcos' visit has also focused on defense and security, which was discussed Monday as he visited the Pentagon. U.S. Defense Secretary Pete Hegseth met with Marcos, and in a Defense Department press release, it was stated the two "reaffirmed their commitment to the U.S.-Philippines Mutual Defense Treaty and discussed shared security concerns in the Asia-Pacific region, as well as recent advances in the long-standing U.S.-Philippines alliance." "Our storied alliance has never been stronger or more essential than it is today," said Hegseth in the release. "Together, we remain committed to the mutual defense treaty." "And this pact extends to armed attacks on our armed forces, aircraft or public vessels, including our Coast Guard, anywhere in the Pacific, including the South China Sea," continued Hegseth. Marcos also met with U.S. Secretary of State Marco Rubio, who said in an X post Monday that they discussed "how the [United States] and the Philippines are strengthening our ironclad Alliance to advance our shared safety, security, and prosperity in the Indo-Pacific." As for any meeting with representatives of the American Filipino community, the press release notes Marcos won't be able to, due to his tight schedule.
