‘Very strong’ US-PH economic ties seen to continue under new US admin

By Joyce Ann L. Rocamora, Philippine News Agency

In a radio interview with DZRH on Wednesday, Philippine Ambassador to the US Jose Manuel Romualdez said businesses have maintained strong interest in investing in the country, factoring in the two nations’ renewed relations in the past years. (Pexels Photo)

MANILA – The country’s top diplomat to the United States is confident that the “very strong” economic relations between the two states would continue under a new US administration.

Republican presidential candidate Donald Trump inches closer to formally winning the 2024 US presidential elections, with 267 and only three electoral votes left to be called.

In a radio interview with DZRH on Wednesday, Philippine Ambassador to the US Jose Manuel Romualdez said businesses have maintained strong interest in investing in the country, factoring in the two nations’ renewed relations in the past years.

“[It will] remain strong kahit sino ang manalo dahil sa negosyo, may konting say ang gobyerno pero private entities, they will go with what they think (whoever wins because in business, while the government has a few say, it is the private entities that call the shot),” he said.

“Dahil sa ito ngang renewed relationship natin sa US, maraming interesadong businesses that would like to open, well, shops so to speak in the Philippines dahil number one, we’re a strong ally at marami ring other like-minded countries like sa Europe or sa Australia ay nag-i-invest sa Pilipinas ngayon (Because of this renewed relationship, there are a number of US businesses that would like to open, well, shops so to speak in the Philippines because we are a strong ally and other countries are also investing in the Philippines).”

Romualdez noted, however, that the number of US businesses decoupling from China, which the country is targeting to secure instead, could “go down a bit” with Trump’s “America first” agenda.

In a separate Stratbase ADRI forum on the same day, Romualdez maintained that the US-Philippines relations are in a good footing under any US presidency.

“We will continue to strengthen and enhance not only our bilateral defense cooperation, but our economic ties as well, cognizant that the economically secure and prosperous Philippines will be an even better ally and partner for the United States,” he said.

“Our friendship and partnership will remain a tool for peace, stability, and prosperity in the Indo-Pacific region.”

Even while counting of votes continues, Trump on Wednesday afternoon declared victory against Harris with world leaders, including French President Emmanuel Macron, Israel’s Prime Minister Benjamin Netanyahu, and Ukraine’s President Volodymyr Zelenskyy sending early congratulatory messages to him.

Under a Trump presidency, political analyst Julio Teehankee foresees the US taking a more “constrained” approach on foreign policy and economy.

“As long as the interest between the United States and the Philippines along economy, defense, security are aligned, then we will not see so much fundamental shift or change in our relationship with the United States,” he told reporters in an election watch reception in Makati City.

“If it’s going to be Donald Trump, it will be more constrained— it’s going to be more transactional because it goes along the line of making America great again. His focus will be more on domestic issues and policy, which will resonate with his own base within the US.”

Teehankee said the Philippines should prepare by starting to “cultivate deeper ties” with ASEAN and Northeast Asian neighbors such as Japan and South Korea.