President Trump is scheduled to meet with President Ferdinand Marcos Jr. of the Philippines at the White House on Tuesday, with both leaders aiming to strengthen their countries’ trade relations. This lunch meeting is part of Marcos’s effort to utilize the Philippines’ close ties with the United States to negotiate a more advantageous trade deal.
The Trump administration has faced challenges in achieving its ambitious goal of finalizing 90 trade deals within 90 days, managing to negotiate only a few agreements to date. So far, they have established framework agreements with the UK, Vietnam, and Indonesia, as well as a trade truce with China that has rolled back certain tariffs.
In recent statements, Trump has expressed intentions to impose additional tariffs, potentially affecting numerous countries including the Philippines, which could face a significant 20 percent tariff starting August 1. This looming possibility has prompted global leaders, including Marcos, to engage in discussions aimed at reducing tariffs.
Before embarking on his trip to the United States, President Marcos emphasized that enhancing trade between the Philippines and the U.S. is a key priority for him, highlighting the importance of a robust economic partnership for both nations.
The meeting represents a critical opportunity for both leaders to address trade issues and potentially pave the way for future agreements that could benefit the economies of both countries.