MANILA An envoy on Monday expressed concern over the possibility of a trade war between the United States and China, urging both countries to try to go back to the negotiating table.
Philippine Ambassador to China Jose Santiago Sta. Romana made this remark after reports about a possible trade war that could adversely affect the Philippines circulated. Some of the country's exports are part of the supply chain in the Chinese exports to the US.
There is gonna be a negative impact on us and that's why we're very concerned about it, Sta. Romana told reporters in Bo'ao, Hainan in China.
Sta. Romana said if a trade war breaks out, it would be a challenge to the Philippines and all parties involved since there are no winners and it is hard for any winner to emerge.
What we need to do is to call for restrain on the US and China to go back to the negotiating table, to open talks and to try to resolve it through negotiations, to trade talks so as to avert a trade war and so as to prevent any fallout on the Philippines, he added.
Meanwhile, the ambassador said that the officials attending the Boao Forum for Asia (BFA) in China, including Philippine President Rodrigo R. Duterte and Chinese President Xi Jinping, are expected to stress the importance of working together towards common trade interests.
So President Xi will make a policy speech, from what I understand, summing up the experience as well as his own policy direction in terms of economic reform and opening up, Sta. Romana said.
And I think we'll have a strong reaffirmation of the need for globalization. So because of this and because of the threat of the trade war, expect a lot of interest in tomorrow's speech as well as the speeches of the top leaders, including President Duterte, he added.
Duterte is in China to advance the Philippines' interests in trade expansion and investments promotions at the BFA this week.
Sta. Romana said the BFA will be significant in terms of attracting international attention to keep markets open and the need for globalization, among others. (PNA)
Source: Philippine News Agency