Marcos Encouraged By Trump-Xi Meeting, Hopes Talks Ease Trade War

MANILA, May 19 (Bernama-PNA) -- Philippines’ President Ferdinand R. Marcos Jr. welcomed the meeting between United States President Donald Trump and Chinese President Xi Jinping, saying continued dialogue between the world’s two largest economies is crucial to global peace, stability and economic cooperation.

Philippine News Agency (PNA) reported Marcos, speaking to Japanese reporters on Monday in Malacañang, said the talks between the two leaders are significant not only for the US and China, but also for the rest of the world amid ongoing geopolitical and economic tensions.

“Well, I think it’s of importance to everyone. When two of the largest - the two leaders of the largest economies in the world - are meeting to discuss some of the issues that we are facing now,” Marcos said.

The President noted that while details of the meeting have yet to be released, the continuation of direct communication between Washington and Beijing is already an encouraging development.

“As we all know, it does not matter how difficult the situation is, how large the conflict is, but if you stop talking, then immediately there is no chance of success,” he said.

The two sides were locked in a tit-for-tat trade war that upended supply chains.

Xi and Trump agreed to a truce during a meeting on the sidelines of the Asia-Pacific Economic Cooperation in South Korea in October last year.

Trump has just concluded a three-day visit to China, a first by an American president in nearly a decade.

Trade, oil, Iran and Taiwan were reportedly among the topics discussed over two days of meetings.

Marcos said the continuing exchanges between China and the US could help reduce tensions not only in trade but also in broader geopolitical issues, including military confrontations being witnessed in different regions.

“And so that is why we see that there is a continuing dialogue, there are continuing exchanges between China and the United States. That is very, very important. Again, it comes down to peace,” he said.

The President clarified that peace should not only be viewed in military terms, but also in terms of economic stability and cooperation.

“When I say peace now, I don’t mean just a military lack of fighting. I’m also talking about peace in terms of trade. The trade wars will diminish. There will be more cooperation,” he added.

Marcos said healthy competition among nations remains beneficial, especially for innovation and consumers, but stressed that cooperation should remain the ultimate goal.

“It’s very well to compete aggressively. That’s a good thing. It’s good for our consumers. It’s good for the strength of our economy. But we must cooperate whenever we possibly can,” he said.

Marcos said he hopes the meeting would lead to a “lessening of the intensity” of economic confrontation between the two powers and produce outcomes that would positively affect the global economy.

The President also welcomed reports that Xi had agreed to visit the United States in the future, calling it another positive sign for international relations.

-- BERNAMA-PNA