PRESIDENT Ferdinand “Bongbong” Marcos Jr. has brought home $21 billion worth of investment pledges from his three-day official visit to Washington in the United States (US).
In his arrival statement on Wednesday, July 23, 2025, Marcos expressed elation over the commitments made during a series of high-level engagements and business meetings with global executives representing sectors such as infrastructure, healthcare, semiconductors, renewable energy, and digital technology.
He said the pledges are expected to create thousands of jobs for Filipinos and significantly enhance the country’s industrial capacity, innovation ecosystem, and clean energy objectives.
“We return to the Philippines with over US$21 billion in investment pledges that have the potential to create thousands of direct and indirect jobs for Filipinos within our country,” the President said.
Marcos said several American companies have expressed strong interest in expanding their operations in the country, particularly in areas such as infrastructure, logistics, clean energy, and advanced manufacturing.
He said some also expressed openness in exploring partnerships in healthcare, digital transformation, and workforce development.
Marcos said there were also new investments in semiconductor and electronics manufacturing that are expected to strengthen the Philippines’ position in global value chains.
The President also noted the United States government’s $15 million commitment to support private sector growth under the Luzon Economic Corridor Initiative, as well as $48 million in foreign-assisted programs for development projects.
In response, Marcos assured the US government, as well as American firms, of the Philippine government’s commitment to maintaining a stable, transparent, and rules-based business environment.
The President assured investors of continued reforms aimed at streamlining processes and improving the ease of doing business.
Reduced tariff rate
Marcos said he was also able to convince United States President Donald Trump to reduce the US tariff rate on Philippine goods from 20 percent to 19 percent, placing the Philippines among the most competitively positioned Southeast Asian economies trading with the United States.
“We managed to bring down the 20 percent tariff rate for the Philippines to 19. Now, one percent might seem like a very small concession. However, when you put it in real terms, it is a significant achievement,” he said.
With the reduction, the Philippines holds the second-lowest tariff rate in the region at 19 percent, with Singapore, which has a bilateral Free Trade Agreement (FTA) with the US, maintaining the lowest at 10 percent.
In a joint press conference before their bilateral meeting at the White House, Trump described Marcos as a “very tough negotiator” in advancing Philippine interests.
“We’ll probably agree to something. But he is a strong negotiator. He loves your country,” said Trump.
Marcos also announced that under the trade deal with the US, the Philippines will remove tariffs on American automobile imports.
“Because we have a tariff on American automobiles, we will open that market and no longer charge tariffs on that,” Marcos said.
Marcos noted that the Philippines will increase imports from the United States for soy products, wheat, and pharmaceuticals.
“Mas maging mas mura ‘yung gamot natin,” Marcos said.
(Our medicine should become more affordable.)
“There’s still a lot of detail that needs to be worked out on the different products and the different exports and imports,” he added.
The US is one of the country’s top trading partners, with bilateral trade amounting to over $20 billion in 2024.
Mutual Defense Treaty
Marcos also shared that he and Trump also discussed the Mutual Defense Treaty, reaffirming the two country’s ironclad defense and security commitment amid the current geopolitical developments in the Asia-Pacific.
“In my meeting with President Trump, we reaffirmed our ironclad commitment to the Mutual Defense Treaty (MDT),” Marcos said.
“I thank the United States for its consistent support for the preservation of regional peace and stability and for upholding the rule of law in the South China Sea,” he added.
The MDT, signed in 1951, serves as the foundation of the two nations’ close security cooperation in their bid to uphold regional peace and stability.
Marcos said they also discussed strengthening cooperation in key areas such as cybersecurity, energy security, resilience, and the development of critical infrastructure.
He emphasized the importance of multilateral engagement, particularly with neighboring countries, to further strengthen the region’s network of common alliances.
Marcos invited Trump to visit the Philippines in 2026 to attend the 44th Association of Southeast Asian Nations (Asean) Summit, which will be chaired by Manila.
The Philippines’ hosting of the Asean Summit will also commemorate 80 years of diplomatic relations between Manila and Washington, as well as 75 years of the MDT.
“I look forward to hosting President Trump next year to attend the ASEAN meetings under the Philippines’ chair, which also coincides with the commemoration of our 80th year of diplomatic ties and 75 years of the Mutual Defense Treaty,” said Marcos.
“The United States is our oldest and only treaty ally, and my visit to meet the new President is important in advancing our historic and dynamic cooperation, mutual respect, and shared strategic interests,” he added. (TPM/SunStar Philippines)