Marcos Jr. meets US investors to discuss tariff reduction

President Ferdinand Marcos Jr. will meet with semiconductor industry leaders and potential investors during his three-day visit to the United States this week.

Philippine Ambassador Jose Manuel Romualdez announced that discussions will focus on reducing the 20% tariff imposed by Washington earlier in the year, which affects Philippine exports to the US.

Semiconductors are a significant part of the Philippines' trade with the US, accounting for $6.4 billion in imports alone in 2024 and making up over half of total exports at $39.09 billion, with semiconductors contributing $29.17 billion.

Marcos Jr.'s visit also aims to enhance economic ties and strengthen the alliance between the two countries, addressing the current trade deficit; during his stay, he met with top executives from Cerberus, I Squared, and KKR & Co., Inc., among others.

The Philippines hosts over 500 electronics and semiconductor firms, including major American companies, making it a significant player in the global semiconductor industry.