Source Link
Excerpt:
President Trump is hosting Philippine President Ferdinand Marcos Jr. this afternoon at the White House amid Trump’s threat to impose 20% tariffs on imports from the Southeast Asian island nation.
Marcos also met with Defense Secretary Pete Hegseth this morning to discuss the military alliance between the United States and Philippines, as well as China.
Trade will be the top item on the agenda for Marcos’s meeting with the President of the United States.
In a letter, dated July 9, Trump put President Marcos on notice of the “significant Trade Deficit,” warning that tariffs of 20% will be charged starting on August 1, unless Philippine companies build and manufacture in the United States or the Philippines reduces trade barriers.
“If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 20% that we charge,” President Trump warned.
“If you wish to open your heretofore closed Trading Markets to the United States, and eliminate your Tariff, and Non-Tariff, Policies and Trade Barriers, we will, perhaps, consider an adjustment to this letter.”
