America grants P3-B foreign assistance

The United States has announced an aid package totaling P3 billion or approximately $60 million for the Philippines following President Ferdinand Marcos Jr.’s meeting with US President Donald Trump and other key officials.

The funds are expected to support energy, maritime and economic growth programs in the Southeast Asian nation.

This aid represents the first such global package since the Trump administration’s review and realignment of foreign assistance in January.

The US Department of State plans to work with Congress to allocate P825 million from this package specifically to boost private sector growth within the Luzon Economic Corridor.

If approved, this funding is anticipated to increase investments in the transport, logistics, energy and semiconductor industries, potentially creating more jobs and stimulating economic growth in the Philippines.

Under the Marcos administration, these sectors have seen expansion, including continued improvements to the country’s transportation program, such as the North-South Commuter Railway project and the extension of Light Rail Transit (LRT) Line 1.

In the energy sector, the government has focused on extending the Malampaya gas contract and exploring alternative energy sources. For the semiconductor industry, the government aims to expand manufacturing supply chains in North Luzon, positioning the region as a potential alternative hub to meet global demand.

Marcos’ invitation to visit Washington underscored the US’ “ironclad” commitment to the US-Philippines Alliance and sought to advance economic ties between the two nations. He was the first president of an ASEAN member country to visit the US amid the latter’s implementation of new tariffs on imported goods, set to begin 1 August.

Marcos’ meeting with Trump resulted in a one-point reduction of the 20 percent tariff on Philippine goods. Marcos stated that while a one percent reduction “may seem small,” it represents a “significant” achievement.