GMA News
Marcos meets with execs from US semiconductor industry
President Ferdinand "Bongbong" Marcos Jr. met with top executives from the Semiconductor Industry Association during his visit to Washington D.C.
The meetings were aimed at strengthening economic ties and potentially protecting the Philippine electronics sector.
US President Donald J. Trump had announced a 20% tariff on Philippine-made goods starting August 1, an increase from 17%, though semiconductors are currently excluded.
Semiconductors are the Philippines' top exports to the US, accounting for a significant portion of the country's total exports.
In 2024, the US was the Philippines' top export destination, receiving 16.6% of its total exports, with electronics goods comprising 53.4% of these exports.
Marcos also met with executives from leading US investment firms, including Cerberus and I Squared.
The President's visit also included discussions with President Trump regarding the tariff issue.
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President Ferdinand Marcos Jr. hailed a one-percentage-point reduction in U.S. tariff rates on Philippine exports to 19 percent, resulting from bilateral talks with U.S. President Donald Trump.
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