Marcos, Chinese Premier share sentiments over US tariff hikes: It shouldn't continue

Manila Bulletin

President Marcos said Chinese Premier Li Qiang shared the same concern over the economic risks posed by the United States’ unilateral tariff regimes, saying they do not want it to carry on.  READ: https://mb.com.ph/2025/05/28/marcos-chinese-premier-share-sentiments-over-us-tariff-hikes-it-shouldnt-continue  Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin  Visit our website at http://mb.com.ph Facebook: https://www.facebook.com/manilabulletin Twitter: https://www.twitter.com/manilabulletin Instagram: https://instagram.com/manilabulletin Tiktok: https://www.tiktok.com/@manilabulletin  #ManilaBulletinOnline #ManilaBulletin #LatestNews

Transcript

00:00Well, first of all, we're trying to compare each other's situation.

00:10Kasi yung ibang ASEAN members, ang laki-laki ng tariff nila.

00:19All the way ranging from what? 40?

00:22Hanggang sa 10% sa Singapore, pinakabababa.

00:25Tayo nga mabuti-buti.

00:27We're second from the bottom with 17%.

00:30Pero tinitignan kasi ang sinasabi ko nga sa kanila,

00:35Okay, kung negosyante ka, pwede nyo sasabihin, advantage sa atin ito.

00:42Dahil kaunti lang yung tariff sa atin, mag-export tayo.

00:46Imbis na sila mag-export, dalhin nila rito yung pabrika, whatever it is.

00:52And then, dito mga ano, so 17% lang ang tariff.

00:55Pero, kung isipin mo, kung you keep thinking about this, who do we do business with?

01:03ASEAN.

01:04Kung bagsak sila, who do we do business with?

01:09Kung bumibili sila na 100 tons of, I don't know, coconut, every year, every month, whatever the number is.

01:19Tapos, humiina ang kanilang ekonomiya.

01:21They can only buy 20.

01:25What will we do with the Remnant?

01:28Hahanap na naman tayo ng markets.

01:30But if everybody is down, then everybody's markets will shrink.

01:35So, this is a real problem.

01:38I also had a, actually, good conversation with the Premier of China.

01:44And I asked him, Premier, what do you think?

01:48He says, well, we do not want any of this.

01:51They don't want this war.

01:53And I said, we're very worried because China is the biggest economic driver in the region.

01:59And, of course, we watch very closely what is happening to the economy in China because it affects all of us.

02:06Because, once again, we trade with China.

02:09We have many investments in China and we have many Chinese investments in the Philippines.

02:15So, talagang kung makita mo, wala namang, walang kung matuloy itong regime na unilaterally imposed.

02:28Talagang babagsak.

02:30It has a global effect.

02:33And it is not going to be a good one.

02:34There will be, I believe, a shrinkage in economic activity.

02:41I hope not.

02:42I hope I'm wrong.

02:44But, so, ang aming laging pinag-usapan, what will happen after the 90 days pause is over?

02:51And that's what we will end.

02:55Basically, we're just guessing.

02:58We don't know.

02:59We don't know what will happen between now and July when the 90 days runs out.

03:04We don't know how it will be different from each one country to the other.

03:10The reason I asked the Premier of China is because, sabi ko, you're the center of attention.

03:17So, I wanted to see what your insights were.

03:29You know, since I was in the second place, I'm going to tell you what happens, but it's really important.

03:35I was going to tell him, how about it?

03:36I was going to tell you, I'm going to tell you.

03:38We don't know how it will happen.

03:38But for the others, I guess we can help you.

03:41I'm going to tell you, how about it.

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