&imwidth=800&imheight=600&format=webp&quality=medium "‘Tough negotiator’: Trump says trade deal with Philippines ‘very close,’ praises Marcos Jr; slams Fed chair as ‘numbskull’")
US President Donald Trump has said he is confident the United States will soon strike a trade agreement with the Philippines, as he welcomed President Ferdinand Marcos Jr to the White House on Tuesday. “We’re very close to finishing a trade deal. A big trade deal, actually,” Trump said during the Oval Office meeting. “He’s a very tough negotiator. So far, we’re not there because he’s negotiating too tough,” he added.
Despite the tough talks, Trump added, “We’ll probably agree on something.” He also noted the growing business between the two countries. “I was surprised to see the kind of numbers – they’re very big and they’re going to get bigger under what we’re doing and what we’re proposing.”
What did Marcos Jr say about the US relationship?
President Marcos Jr said he was “very happy” to meet Trump and reaffirm “the very strong ties between the Philippines and the United States.” “The strongest, closest, most reliable ally has always been the United States,” he said. Marcos also described the US as the Philippines’ “only treaty partner,” he added.
What triggered the trade tensions?
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The Philippines was one of several countries to receive letters from Trump earlier this month, warning of 20% tariffs on all goods entering the US starting 1 August, an increase from an earlier 17% threat. The tariff warning came despite the two countries’ growing military cooperation. Under former president Joe Biden, the US deployed ground-launched missiles in the Philippines in 2023 amid rising tensions with China. The US has also been considering ammunition production in the Philippines.
Marcos links defence push to China tensions
“All of what we consider part of the modernisation of the Philippine military is really a response to the circumstances that surround the situation in the South China Sea,” Marcos said. “We are essentially concerned with the defence of our territory and the exercise of our sovereign rights,” he added. The Philippines has long been a key strategic ally for the US in the Indo-Pacific region and was once a US colony. The US naval base at Subic Bay was closed in 1992 due to local pressure, but ties have since grown stronger again.
Trump attacks Fed chair during same meeting
In a separate comment during his White House meeting, Trump lashed out at Federal Reserve chairman Jerome Powell, calling him a “numbskull.” Trump criticised Powell for not cutting interest rates fast enough. “I think he’s done a bad job. But he’s going to be out pretty soon anyway, in eight months, he’ll be out,” Trump said. He also claimed Powell’s refusal to lower rates may be “probably for political reasons.”
