Trump’s 20% Tariff Sparks Diplomatic Meetings with Philippines President
Starting August 1, a tariff of 20% is slated to be imposed on goods imported from certain countries, a decision issued by President Trump. This new development has already sparked a series of high-profile diplomatic meetings. Notably, on Monday, Defence Secretary Pete Hegseth held an important discourse with Ferdinand Marcos Jr., the President of the Philippines, at the Pentagon.
The following day, a meeting has been arranged at the White House where President Trump and President Ferdinand Marcos Jr. will be discussing various aspects of their countries’ partnership. The key aim for the Philippine president is to capitalize on the strong ties between the two nations in a bid to negotiate a more advantageous trade agreement.
An invitation has been extended to President Marcos to join President Trump for a meal, indicating that these discussions involve potentially momentous decisions that reach beyond formal meetings. Despite the friendly overtures, however, the prevailing situation betrays certain challenges for the Trump administration.
Prior to the beginning of July, the government had set an ambitious goal to finalize 90 trade deals within a short span of 90 days. Against this target, only a small number of deals actually came to fruition, underscoring the difficulties in the negotiation process.
On a more optimistic note, the White House has confirmed that preliminary agreement frameworks have been established with three countries – Britain, Vietnam, and Indonesia. Additionally, a trade armistice scaling back tariffs with China has also been achieved.
However, looming over these developments is President Trump’s declaration to ramp up tariffs on a multitude of countries beginning August 1. The Philippines, among others, is on the list of countries that may face a 20% tariff. Understanding the implications, various leaders worldwide have engaged in negotiations with the President’s administration in hopes of reducing these proposed tariffs.
Before his journey to the United States, President Marcos made it clear that his focus was on the promotion of robust trade between his country and the United States. He emphasized the importance of this bilateral relationship, and translated this focus into the main objective for his stateside visit.
Speaking candidly about his agenda he said, ‘My principal aim for this trip is to advocate for heightened economic involvement, focusing on the spheres of trade and investment between the Philippines and the United States’. He reiterated his commitment to achieving this through dialogue and negotiation.
The Philippine president expressed his aim of communicating to President Trump and his administration that his country is keen to negotiate a one-on-one trade deal. Marcos insisted on crafting a deal that guarantees a strong, win-win partnership and boasts a forward-looking approach that is exclusive to the US and the Philippines.
His vision for the proposed agreement not only encompasses existing trade norms but also lays the groundwork for future collaborations which would capitalize on the unique relationship between the two countries.
The White House too expressed the nature of the forthcoming meeting between the two presidents. A statement indicated that the dialogue will center around their combined appreciation of maintaining a ‘free, open, prosperous and secure Indo-Pacific’.
The statement noted that the meeting would be a platform for both leaders to discuss ways of accelerating mutual economic prosperity. While shared security is on the agenda, trade relations will inevitably form a major part of the discussions.
The impending meeting between President Trump and President Marcos, in this context, promises to yield significant decisions regarding the nature of the economic alliance between the two nations. With the weight of both their countries’ economies at stake, the outcomes are certain to redefine their existing bilateral relationship.