“As history has repeatedly proven, one trade tariff begets another, then another – until you’ve got a full-blown trade war. No one ever wins, and consumers always get screwed.”—Mark McKinnon
WE’RE not mathematicians, but did the Philippines really get a fair deal when President Ferdinand “Bongbong” Marcos Jr. “agreed” with U.S. President Donald Trump in a visit to the White House July 22 for the Philippines to pay a 19 percent tariff while the Philippines will lift all tariffs on imported U.S. goods?
We thought the meaning of a word “reciprocal” is mutual action or relationship? And reciprocity is the give-and-take that defines any healthy relationship?
Come to think of it. The 19 percent tariff rate was just shy of the 20 percent tariff rate the Trump administration was set to impose on the Philippines prior to the White House meeting.
And it’s also higher than the so-called “reciprocal tariff” of 17 percent on Philippine imports the administration announced in April.
In his Truth Social post, Mr. Trump said: “It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs.”
He added: “The Philippines will pay a 19% Tariff. In addition, we will work together Militarily. It was a Great Honor to be with the President. He is Highly Respected in his Country, as he should be. He is also a very good, and tough, negotiator. We extend our warmest regards to the wonderful people of The Philippines!”
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President Marcos Jr. is the first head of state from the Association of Southeast Asian Nations (ASEAN) to visit the White House during Trump’s second term. Trump sent a letter to Marcos announcing a 20 percent tariff on goods imported from the Philippines—a hike from the 17 percent announced earlier in April.
Again, we are asking, where is the reciprocity in the US-Philippines tariff deal?
According to the Office of the U.S. Trade Representative, in 2024, the U.S. goods trade deficit with the Philippines was $4.9 billion − a 21.8 percent increase from 2023.
Top U.S. exports to the Philippines include agricultural goods, machinery, cereals and materials for semiconductor and transport equipment manufacturing
The reciprocal “Liberation Day” tariffs were first announced on April 2 and temporarily reduced to 10 percent a week later.
In his Oval Office meeting, Mr. Trump said the U.S. and the Philippines were “very close” to reaching a deal, calling Marcos a tough negotiator.
“We’re very close to finishing a trade deal, big trade deal,” Mr. Trump said, seated alongside Marcos. “And we do a lot of business with you, so a lot of income coming in for both groups.”
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Because of the 12-round majority draw Manny Pacquiao was able to eke out in his April 19 tussle against WBC 147-lb king Mario Barrios, the Filipino part time politician is now singing a totally different tune: goodbye politics.
As we have predicted, Pacquiao will now continue fighting indefinitely despite his age. His performance against Barrios has motivated him that “age didn’t matter” and this is where real danger beckons.
As long as he can punch, jog, bob and weave there’s no way he will quit from prizefighting.
If he is given another chance to fight for the world title—a rematch with Barrios or in other alphabet world boxing organizations such as WBA, IBF, WBO, IBO, WBF, etcetera—Pacquiao will never say no; it will be a never-say-die attitude.
We continue to fear for his safety as medical science shows it is not safe anymore for any athlete in contact sports to be active after 40.
A retirement should have been in his radar a long time ago—when he was 36 years old, at least.
Alex P. Vidal, who is now based n New York City, used to be the editor-in-chief of two leading daily newspapers in Iloilo, Philippines.—Ed
