Marcos says reduction in US tariff on PH goods 'significant'
WASHINGTON —President Ferdinand Marcos Jr. has confirmed the announcement of US President Donald Trump that the tariff rate for goods coming from the Philippines has been reduced from 20 percent to 19 percent, calling it "a significant achievement."
"We managed to bring down 20 percent tariff rate for the Philippines to 19. One percent might seem like a very small concession. However, if you put it into real terms, it is a significant achievement," he told reporters after meeting Trump at the White House.
Marcos also clarified that not all goods entering the Philippines from the United States will get a zero tariff.
Marcos issued the remark following Trump's social media post that 'the Philippines is going open market with the United States adding that the US is getting 'zero tariffs.'
The Philippine leader said the zero tariff will only apply to certain markets.
'There were certain markets that they asked to be opened. One of the major areas is automobiles because we have a tariff on American automobiles. We will open that market,' he said.
The Philippines will also increase its imports from the US, he said.
'The other side of that is increased importation from the US for soy products, wheat products, and pharmaceuticals, medicines para mas gawing mura ang gamot natin (to reduce the costs of our medicines),' Marcos added.
When asked if the deal was more favorable to the US, Marcos replied, 'That's how negotiations go. Why the tariff went up from P17 to P20 is internal to the US government."
Marcos, the first Southeast Asian leader to meet Trump in his second term, told reporters at the start of the meeting that the United States was his country's "strongest, closest, most reliable ally."
The 19% tariff rate was just below the 20% threatened by Trump earlier this month, but above the 17% rate set in April when Trump announced what he called reciprocal tariff rates for dozens of countries. It matches the 19% rate announced for Indonesia and bests Vietnam's slightly higher rate of 20%.
The United States had a deficit of nearly $5 billion with the Philippines last year on bilateral goods trade of $23.5 billion.
Trump said the two countries did "a lot of business" with each other, adding the "very big numbers" in the trade agreement would only grow larger. —With a report from Reuters/LDF, GMA Integrated News
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
32 minutes ago
- GMA Network
China's Premier Li proposes global AI cooperation organization
Chinese Premier Li Qiang speaks during the EU-China Business Leaders Symposium, at the 25th European Union - China Summit in the Great Hall of the People, in Beijing, China, 24 July 2025. ANDRES MARTINEZ CASARES/Pool via REUTERS/File Photo SHANGHAI - Chinese Premier Li Qiang on Saturday proposed establishing an organization to foster global cooperation on artificial intelligence, calling on countries to coordinate on the development and security of the fast-evolving technology. Speaking at the opening of the annual World Artificial Intelligence Conference (WAIC) in Shanghai, Li called AI a new engine for growth, but adding that governance is fragmented and emphasizing the need for more coordination between countries to form a globally recognized framework for AI. The three-day event brings together industry leaders and policymakers at a time of escalating technological competition between China and the United States — the world's two largest economies — with AI emerging as a key battleground. "Currently, overall global AI governance is still fragmented. Countries have great differences particularly in terms of areas such as regulatory concepts, institutional rules," Li said. "We should strengthen coordination to form a global AI governance framework that has broad consensus as soon as possible," he said. Washington has imposed export restrictions on advanced technology to China, including the most high-end AI chips made by companies such as Nvidia and chipmaking equipment, citing concerns that the technology could enhance China's military capabilities. Despite these restrictions, China has continued making AI breakthroughs that have drawn close scrutiny from US officials. Li did not name the United States in his speech, but he warned that AI could become an "exclusive game" for a few countries and companies, and said challenges included an insufficient supply of AI chips and restrictions on talent exchange. China wanted to share its development experience and products with other countries, especially those in the Global South, Li said. WAIC is an annual government-sponsored event in Shanghai that typically attracts major industry players, government officials, researchers and investors. Tesla CEO Elon Musk, who has in past years regularly appeared at the opening ceremony both in-person and via video, did not speak this year. Besides forums, the conference also features exhibitions where companies demonstrate their latest innovations. This year, more than 800 companies are participating, showcasing more than 3,000 high-tech products, 40 large language models, 50 AI-powered devices and 60 intelligent robots, according to organizers. The exhibition features predominantly Chinese companies, including tech giants Huawei and Alibaba and startups such as humanoid robot maker Unitree. Western participants include Tesla, Alphabet and Amazon. —Reuters
GMA Network
2 hours ago
- GMA Network
WATCH: Marcos inspects Navotas navigational gate, visits evacuation center
President Ferdinand "Bongbong" Marcos Jr on Saturday went to Navotas City to inspect the damaged navigational gate and visit an evacuation center after floods hit the city this week. Marcos was welcomed by Navotas City Mayor John Rey Tiangco as he inspected the navigational gate, according to a video posted on X by GMA Integrated News reporter Bernadette Reyes. He thereafter visited the Tanza National High School and greeted the residents who took shelter there amid floods in their communities, according to videos taken by GMA Integrated News reporter Katrina Son and Super Radyo dzBB reporter Christian Maño. PANOORIN: Pagdating ni Pangulong Ferdinand "Bongbong" Marcos Jr. sa Tanza National High School sa Navotas City na nagsilbing evacuation center ng ilang residente dahil sa masamang panahon. | via Katrina Son/GMA Integrated News — GMA Integrated News (@gmanews) July 26, 2025 WATCH: Pang. Bongbong Marcos, binisita ang mga evacuee sa Tanza National Highschool sa Navotas City na naapektuhan ng bagyo at habagat | @dzbb @gmanews — Christian Maño (@xtian_mano) July 26, 2025 Many areas in Navotas got flooded this week due to heavy rains from the Southwest Monsoon enhanced by tropical cyclones Crising, Dante, and Emong, as well as the high tide. —KG, GMA Integrated News
GMA Network
5 hours ago
- GMA Network
Thailand and Cambodia exchange heavy artillery fire as border battle expands
A Cambodian military personnel stands on a BM-21 Grad multiple rocket launcher, around 40 km (24 miles) from the disputed Ta Moan Thom temple, after Thailand and Cambodia exchanged heavy artillery on Friday as their worst fighting in more than a decade stretched for a second day, in Oddar Meanchey province, Cambodia, July 25, 2025. REUTERS/Soveit Yarn SURIN, Thailand - Thailand and Cambodia exchanged heavy artillery fire for a second day on Friday as border fighting intensified and spread, while Cambodia's leader said Thailand had agreed to a Malaysian ceasefire proposal but then backed down. At least 20 people have been killed and more than 130,000 people displaced in the worst fighting between the Southeast Asian neighbors in 13 years. Both sides have blamed each other for starting the conflict and on Friday ratcheted up the rhetoric. Thailand accused Cambodia of deliberately attacking civilians and Cambodia condemned Thailand for using cluster munitions, controversial and widely condemned. Ceasefire proposal Thailand's acting prime minister, Phumtham Wechayachai, said Cambodia had attacked on multiple fronts. "The situation has intensified and could escalate into a state of war. At present, it's a confrontation involving heavy weapons," he told reporters. Cambodian Prime Minister Hun Manet said in a social media post that he had agreed to a ceasefire proposed by his Malaysian counterpart Anwar Ibrahim, chair of the ASEAN regional bloc, who had informed him that Phumtham had also agreed. "However, it is regrettable that just over an hour later, the Thai side informed that they had reversed their position," Hun Manet said. Thailand late on Friday said it agreed in principle with the idea of a ceasefire and would consider it, but that it must be based on "appropriate on-the-ground conditions". "Throughout the day, Cambodian forces have continued their indiscriminate attacks," the Thai foreign ministry said in a post on X. "Cambodia's actions demonstrate a lack of good faith and continue to place civilians in danger." Two senior Thai foreign ministry officials earlier said Bangkok had received offers of mediation from the US, Malaysia and China, but preferred to use bilateral mechanisms. Thailand alleges 'barbaric acts' Fighting re-erupted before dawn on Friday, with clashes reported in 12 locations, up from six on Thursday, according to Thailand's military. It accused Cambodia of using artillery and Russian-made BM-21 rockets to attack areas that included schools and hospitals. "These barbaric acts have senselessly claimed lives and inflicted injuries upon numerous innocent civilians," it said. "The deliberate targeting of civilians is a war crime and those responsible must be brought to justice." It put the blame squarely on the Phnom Penh government, which it said was being steered by Hun Sen, influential former premier of nearly four decades and father of Hun Manet. Reuters journalists in Thailand's Surin province saw a Thai military convoy of about a dozen trucks, armored vehicles and tanks cut across provincial roads ringed by paddy fields as it moved toward the border. Intermittent bursts of explosions could be heard. Soldiers marshalled traffic on a rural road along which artillery guns were being loaded and fired in succession, emitting orange flashes, loud explosions and grey smoke. The fighting started early on Thursday, quickly escalating from small arms fire to heavy shelling in multiple areas 210 km (130 miles) apart along a frontier where sovereignty has been disputed for more than a century. Thailand on Thursday deployed an F-16 fighter jet to strike a Cambodian military target, underlining its military advantage. Cambodia has no fighter aircraft and significantly less defense hardware and personnel. It has urged the UN Security Council to address what it says is Thailand's "unprovoked military aggression". Preah Vihear temple reportedly damaged It said Thailand's bombardments had caused "significant and visible damage" to the 11th-century Preah Vihear temple, a UNESCO World Heritage Site that both countries have laid claim to for decades. Thailand's military called the allegation "a clear distortion of facts". The trigger for the conflict was Thailand recalling its ambassador to Phnom Penh and expelling Cambodia's envoy on Wednesday, in response to a second Thai soldier losing a limb to a landmine that Bangkok alleged had been laid recently by rival troops. Cambodia denied that. Cambodia's government on Friday expressed outrage at Thailand's use of what it said was a large amount of cluster munitions, calling it a violation of international law. Thailand's military said Thailand was not a party to the Convention on Cluster Munitions but that it followed the principle of proportionality, "to enhance explosive destruction capabilities against military targets only". The death toll in Thailand rose to 19 on Friday, 13 of them civilians, with 62 people wounded. Cambodia's government has not reported any casualties, but a provincial official said one person had been killed. Thailand has prepared nearly 300 facilities for evacuees, more of which poured into shelters in Surin province after hearing shelling. Elderly people dozed while others queued for food to be served by volunteers as children played outside. Some evacuees sifted through donated clothing, others sat talking on floor mats, recounting how they had fled the fighting. "We heard very loud explosions, so we came here. We were so scared," said Aung Ying Yong, 67, wiping away tears with a towel. "So many people are in trouble because of this war ... we are very sad that we have to live like this." —Reuters
