By Darryl John Esguerra | Philippine News Agency
President Ferdinand R. Marcos Jr. on Saturday welcomed the easing of trade tensions between the United States and China, calling it a positive development for the global economy and for countries like the Philippines, after the two economic giants reportedly agreed to a temporary truce on the sidelines of the just-concluded APEC Summit.
Marcos said he received limited details about the outcome of the talks between President Donald Trump and Xi Jinping. Early reports, however, suggested 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 said during a media briefing Saturday.
“The whole world breathed a little easier because somehow the two biggest economies have found a way to ease tensions, even if not completely,” he added.
The President noted that any easing of the trade war between the two global powers would have ripple effects across Asia’s export-dependent economies, including the Philippines.
The country maintains strong trade relations with both China and the United States, both among its largest trading partners.
Marcos said his economic team continues to monitor potential tariff adjustments and market shifts that could affect Philippine exports.
The President also clarified that the Philippines and the U.S. did not seek a bilateral meeting during the summit, saying both governments remain in close coordination through diplomatic and defense channels.
Marcos briefly exchanged pleasantries with Xi during the summit’s leaders’ retreat, which he described as a mere “common courtesy” as he congratulated 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 said. (PNA)
