PH to 'constructively engage' with US on economy

The Philippines will ''constructively engage'' with the United States at the sidelines of the 47th ASEAN Summit and Related Summits in Malaysia next week, the Department of Foreign Affairs said Friday.

At a press briefing, DFA spokesperson Angelica Escalona was asked if President Ferdinand ''Bongbong'' Marcos Jr. and US President Donald Trump will meet during the ASEAN Summit and if Trump's presence in the meetings would be beneficial or not.

''There are reports that he will attend but we are still waiting for chair Malaysia to make an announcement. How concerned are we? As regards 'yung sa US natin, for us it's really about engaging the US... in these economic fields,'' Escalona said.

''We will work with our ASEAN partners in finding ways to constructively engage with the US,'' she added.

Escalona could not say yet whether US tariffs will be tackled at the sidelines of the Summit.

Malaysian Prime Minister Anwar Ibrahim, the current chair of ASEAN, has said the Republican leader will attend the meetings but there has been no official confirmation yet from Washington.

In September, US Trade Representative Jamieson Greer said that the US is expected to finalize trade deals with more Southeast Asian countries in the coming months.

To recall, tariff rates have been set at 19% and 20% for most of the region. The Philippines has a 19% rate, Laos and Myanmar have been hit with a 40% rate, while Singapore has a 10% tariff.

The 19% tariff rate was just below the 20% threatened by Trump for Manila, but above the 17% rate set in April when Trump announced what he called reciprocal tariff rates for dozens of countries.

For Marcos, this rate was a ''significant achievement.'' He also said that not all goods entering the Philippines from the US will get a zero tariff. — RSJ, GMA Integrated News