Manila: President Ferdinand R. Marcos Jr. on Saturday welcomed the easing of trade tensions between the United States and China, describing it as a positive development for the global economy and for countries like the Philippines. This follows reports that the two economic giants have agreed to a temporary truce on the sidelines of the recently concluded APEC Summit.
According to Philippines News Agency, President Marcos mentioned that he received limited details about the talks between President Donald Trump and Xi Jinping. However, early reports indicated that Washington and Beijing have agreed to ‘declare peace for at least a year,’ signaling a temporary de-escalation in their tariff conflict.
“The best information I got says that they have declared peace for at least a year. So, the trade war will be less intense – or at least that’s the agreement,” Marcos stated during a media briefing on Saturday. He added that the whole world could breathe a little easier as the two largest economies have found a way to ease tensions, albeit not completely.
The President highlighted that any easing of the trade war between these global powers would have ripple effects across Asia’s export-dependent economies, including the Philippines. The country maintains robust trade relations with both China and the United States, which are among its largest trading partners.
Marcos noted that his economic team continues to monitor potential tariff adjustments and market shifts that could impact Philippine exports. He also clarified that the Philippines and the US did not seek a bilateral meeting during the summit, emphasizing that both governments remain in close coordination through diplomatic and defense channels.
Additionally, President Marcos briefly exchanged pleasantries with Xi during the summit’s leaders’ retreat, which he described as a ‘common courtesy’ while congratulating the Chinese leader on Beijing’s upcoming APEC chairship next year. “This is APEC – it’s an economic meeting. We don’t really talk about such issues here. In ASEAN, maybe. But not this time,” Marcos remarked.
