Philippine Ambassador to China Jose Santiago L. Santa Romana said the country should call for restraint amid what he described as escalating United States-China trade war.
Santa Romana’s statement came after a research note from RHB Bank Berhad dated April 4 said the Philippines could be the most at risk country in the Association of Southeast Asian Nations region because of the trade war.
“So we are calling 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 told reporters at a news briefing in China.
President Duterte is expected to address the plenary in the Boao Forum for Asia in Hainan province.
On April 10 Duterte is also scheduled to hold a bilateral meeting with his Chinese counterpart Chinese President Xi Jinping, who is also expected to make a policy speech in the forum amid the trade war.
Santa Romana said the country is very concerned about it since the Philippines could be adversely affected, especially in terms of exports since some of the country’s exports are part of the supply chain in the Chinese exports to the United States.
“I think what we want—what we don’t want to see—is to be adversely affected and it is going to be a challenge because if a trade war breaks out, usually, generally speaking, there are no winners and it is hard for any winner to emerge and so we would also be affected,” he said.
China proposed last Wednesday for the imposition of higher tariffs on about $50 billion of US imports.
Last Thursday, US President Donald J. Trump ordered the possible imposition of tariffs on additional $100 billion in Chinese imports.
Aside from being the biggest trading partner for many Southeast Asian economies, China is also an important source of investment and tourism in the region.
In its research note, RHB Bank Berhad enumerated the sectors which are likely to be hit badly with the worsening trade war are electronics, electrical machinery, such as computers and industrial goods.
Duterte’s foreign- policy shift toward China is backed by his adoption of a more cooperative stance toward China.
According to Santa Romana, among the bilateral agreements to be signed include the final loan agreement on the Chico Dam project and on hiring more Filipino English teachers.
He also noted that the President’s attendance to the forum will enable him to showcase the Philippine economic achievements, the priorities of his administration, particularly in the sphere of business and economics, and to exchange views with other top leaders.
Asked on what will be discussed during the bilateral meeting, Santa Romana said he is not at a liberty to divulge details, but noted that the public may expect the President to review the state of bilateral relations, and to discuss not just challenges, including disputes, but also the larger picture of how to push further forward the areas of cooperation with China.
“But most of all, I think, the President will concentrate on the big picture – on how to maintain peace and stability in the region, the importance of dialogue, and using diplomacy – in order to achieve a peaceful solution to long-standing problems and while seeking solutions to solve the territorial claims and maritime disputes is how to find areas of cooperation and to be able to expand this in the coming years,” he said.