By Justine Irish D. Tabile, Reporter
THE PHILIPPINES could be among the beneficiaries of US President-elect Donald J. Trump’s trade policies, with the incoming 47th president and his appointees expected to favor the signing of a free trade agreement (FTA), Trade Undersecretary and Board of Investments Managing Head Ceferino S. Rodolfo said.
At the National Exporters’ Week on Monday, Mr. Rodolfo said that he is hopeful that Trump 2.0 will be net positive for the Philippines.
“Of all recent US Presidents, it is (Mr.) Trump who has officially welcomed a bilateral free trade agreement (FTA) with the Philippines,” he said, citing a joint statement during Mr. Trump’s first term in 2017.
“Both sides agreed to discuss the matter further. So at least on record, President Trump has welcomed an FTA with the Philippines,” he added.
In particular, he said then-US Trade Representative (USTR) Robert Lighthizer, who served in Mr. Trump’s first term, testified at a Senate Committee Hearing that the US is close to starting FTA negotiations with several countries.
“He said that one that we particularly like is the Philippines. I think it would be a good first agreement,” Mr. Rodolfo said, quoting Mr. Lighthizer.
“Now the incoming USTR is Jamieson Greer. He was the Chief of Staff of Ambassador Lighthizer. And Ambassador Lighthizer continues to be an advisor to President Trump,” he added.
He also said Senator Marco Rubio, who was Mr. Trump’s nominee to the State Department, had introduced a bill proposing to strengthen the US-Philippines security partnership.
“That bill called for the US to directly negotiate a critical minerals agreement with the Philippines. And to amend the Better Utilization of Investment Leading to Development Act to explicitly support investments in critical min-erals and energy products in Southeast Asia, most particularly in the Philippines,” he said.
“It also required an interagency plan for US support for infrastructure development in the Philippines,” he added.
He said that going by Mr. Trump’s actions during his first term, as well as the track record of his nominees, it is reasonable to expect an overall receptiveness to a stronger, closer relationship with the Philip-pines.
He added that Mr. Trump views trade deficits as an important indicator and tends to blame such imbalances on unfair trade practices against the US.
“If you look at the trade deficit of the US, its number one deficit globally is actually China, which has a $300-billion trade surplus with the US. The number two deficit is with Vietnam, which is $109 billion,” he said.
He added that the US has determined during the first Trump administration that Vietnam has been employing unfair trade practices.
“Whenever he makes announcements about additional tariffs, for sure, China, Vietnam, and other countries will be targeted,” he said.
“Fortunately for the Philippines, our trade surplus with the US is just $4 billion. So in effect, we have a healthy, almost balanced trade with the US,” he added.
