Latest news with #US-Philippine
The Advertiser
3 days ago
- Business
- The Advertiser
Trump says US, Philippines 'very close' to trade deal
US President Donald Trump has welcomed Philippine President Ferdinand Marcos Jr to the White House, saying the two countries are close to finalising a trade agreement. "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. Trump has already struck trade deals with two regional partners of the Philippines - Vietnam and Indonesia. The United States had a deficit of nearly $US5 billion ($A7.7 billion) with the Philippines last year on bilateral goods trade of $US23.5 billion. Trump this month raised the threatened "reciprocal" tariffs on Philippine imports to 20 per cent, from 17 per cent 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, from the Washington's Center for Strategic and International Studies, said Marcos might be able to do better than Vietnam, with its agreement of a 20 per cent baseline tariff on its goods, and Indonesia at 19 per cent. Trump underscored the importance of the US-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 DC 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 US business leaders investing in the Philippines. US President Donald Trump has welcomed Philippine President Ferdinand Marcos Jr to the White House, saying the two countries are close to finalising a trade agreement. "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. Trump has already struck trade deals with two regional partners of the Philippines - Vietnam and Indonesia. The United States had a deficit of nearly $US5 billion ($A7.7 billion) with the Philippines last year on bilateral goods trade of $US23.5 billion. Trump this month raised the threatened "reciprocal" tariffs on Philippine imports to 20 per cent, from 17 per cent 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, from the Washington's Center for Strategic and International Studies, said Marcos might be able to do better than Vietnam, with its agreement of a 20 per cent baseline tariff on its goods, and Indonesia at 19 per cent. Trump underscored the importance of the US-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 DC 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 US business leaders investing in the Philippines. US President Donald Trump has welcomed Philippine President Ferdinand Marcos Jr to the White House, saying the two countries are close to finalising a trade agreement. "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. Trump has already struck trade deals with two regional partners of the Philippines - Vietnam and Indonesia. The United States had a deficit of nearly $US5 billion ($A7.7 billion) with the Philippines last year on bilateral goods trade of $US23.5 billion. Trump this month raised the threatened "reciprocal" tariffs on Philippine imports to 20 per cent, from 17 per cent 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, from the Washington's Center for Strategic and International Studies, said Marcos might be able to do better than Vietnam, with its agreement of a 20 per cent baseline tariff on its goods, and Indonesia at 19 per cent. Trump underscored the importance of the US-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 DC 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 US business leaders investing in the Philippines. US President Donald Trump has welcomed Philippine President Ferdinand Marcos Jr to the White House, saying the two countries are close to finalising a trade agreement. "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. Trump has already struck trade deals with two regional partners of the Philippines - Vietnam and Indonesia. The United States had a deficit of nearly $US5 billion ($A7.7 billion) with the Philippines last year on bilateral goods trade of $US23.5 billion. Trump this month raised the threatened "reciprocal" tariffs on Philippine imports to 20 per cent, from 17 per cent 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, from the Washington's Center for Strategic and International Studies, said Marcos might be able to do better than Vietnam, with its agreement of a 20 per cent baseline tariff on its goods, and Indonesia at 19 per cent. Trump underscored the importance of the US-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 DC 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 US business leaders investing in the Philippines.
Straits Times
3 days ago
- Business
- Straits Times
Trump says US, Philippines ‘very close' to finalising trade deal
Find out what's new on ST website and app. Philippine President Ferdinand Marcos Jr (left) meeting US President Donald Trump at the White House on July 22. WASHINGTON - US President Donald Trump on July 22 welcomed Philippine President Ferdinand Marcos Jr to the White House, saying the two countries were close to finalising a trade agreement. 'We're going to talk about trade today and we are very close to finishing a trade deal, a big trade deal actually,' Mr Trump told reporters at the start of his meeting with the Philippine leader. Mr Marcos is the first South-east Asian leader to meet Mr Trump in his second term. Mr 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. The United States had a deficit of nearly US$5 billion (S$6.3 billion) with the Philippines in 2024 on bilateral goods trade of US$23.5 billion. Mr Trump this month raised the threatened 'reciprocal' tariffs on Philippine imports to 20 per cent from 17 per cent threatened in April. Mr 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. Mr Gregory Poling, a South-east Asia expert at Washington's Centre for Strategic and International Studies, said Mr Marcos might be able to do better than Vietnam , with its agreement of a 20 per cent baseline tariff on its goods, and Indonesia at 19 per cent. Top stories Swipe. Select. Stay informed. Singapore Two found dead after fire in Toa Payoh flat Singapore Singaporeans aged 21 to 59 can claim $600 SG60 vouchers from July 22 Singapore Singaporeans continue to hold world's most powerful passport in latest ranking Singapore Singapore, Vietnam agree to step up defence ties, dialogue between leaders Asia Malaysia govt's reform pledge tested as DAP chief bows over unresolved 2009 death of political aide Tech Singapore to increase pool of early adopters in AI to complement data scientists, engineers Singapore Prosecution says judge who acquitted duo of bribing ex-LTA official had copied defence arguments Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving Mr Trump underscored the importance of the US-Philippine military relationship. 'They're a very important nation militarily, and we've had some great drills lately,' he said. US President Donald Trump (left) welcoming Philippine President Ferdinand Marcos Jr to the White House on July 22. PHOTO: REUTERS Mr Marcos, who arrived in Washington on July 20, went to the Pentagon on July 21 for talks with Defence Secretary Pete Hegseth and later met Secretary of State Marco Rubio. During his trip, he will also meet US 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 US partner in the Indo-Pacific. Philippine Assistant Foreign Secretary Raquel Solano said last week trade officials have been working with US counterparts seeking to seal a 'mutually acceptable and mutually beneficial' deal. REUTERS
Perth Now
3 days ago
- Business
- Perth Now
Trump says US, Philippines 'very close' to trade deal
US President Donald Trump has welcomed Philippine President Ferdinand Marcos Jr to the White House, saying the two countries are close to finalising a trade agreement. "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. Trump has already struck trade deals with two regional partners of the Philippines - Vietnam and Indonesia. The United States had a deficit of nearly $US5 billion ($A7.7 billion) with the Philippines last year on bilateral goods trade of $US23.5 billion. Trump this month raised the threatened "reciprocal" tariffs on Philippine imports to 20 per cent, from 17 per cent threatened in April. .@POTUS: "It's a great honor to have President Ferdinand Marcos Jr. of the Philippines... we're going to be talking about trade... we have some fantastic military relationships with the Philippines." Rapid Response 47 (@RapidResponse47) July 22, 2025 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, from the Washington's Center for Strategic and International Studies, said Marcos might be able to do better than Vietnam, with its agreement of a 20 per cent baseline tariff on its goods, and Indonesia at 19 per cent. Trump underscored the importance of the US-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 DC 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 US business leaders investing in the Philippines.
The Star
18-07-2025
- Business
- The Star
Philippines eyes favourable US trade deal as Marcos set to meet Trump
MANILA (Bloomberg): The Philippines hopes to secure a trade agreement with the US when President Ferdinand Marcos Jr. 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% from 17% starting in August, raising concern from its longtime 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% 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. "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, defense and security matters of common interest,' she added. The issue on the South China Sea, where Manila and Beijing are locked in competing maritime claims, will also be tackled, Solano said, as well the possible deployment of military assets in the region. -- ©2025 Bloomberg L.P.
Bloomberg
18-07-2025
- Business
- Bloomberg
Philippines Eyes US Trade Deal as Marcos Set to Meet Trump
By and Ditas B Lopez Updated on Save The Philippines hopes to secure a trade agreement with the US when President Ferdinand Marcos Jr. 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.
