Marcos hopes US-China trade truce holds

President Ferdinand "Bongbong" Marcos Jr. expressed hope that the United States and China would uphold their commitment to a year-long trade truce, stating that the world "heaved a sigh of relief" after the agreement.

The US and China reached a trade agreement earlier this week, which included a reduction in tariffs on Chinese products and Beijing's commitment to resume the import of US soybeans.

President Marcos Jr. noted that even if the agreement is not complete, it is positive that the two largest economies in the world have reached some understanding.

The Philippine government is still gathering more details about the trade agreements to assess their potential impact on Philippine trade and the economy.

President Marcos Jr. mentioned that he has been seeking more information from various leaders and US Treasury Secretary Scott Bessent regarding the meeting between US President Donald Trump and Chinese President Xi Jinping.