Philippines, China Commit to Working on Resolving Differences

China's Foreign Minister Qin Gang is welcomed by Philippine Foreign Secretary Enrique Manalo ahead of their meeting at the Diamond Hotel in Metro Manila on April 22, 2023. (Photo: AFP/Gerard Carreon)
China's Foreign Minister Qin Gang is welcomed by Philippine Foreign Secretary Enrique Manalo ahead of their meeting at the Diamond Hotel in Metro Manila on April 22, 2023. (Photo: AFP/Gerard Carreon)
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Philippines, China Commit to Working on Resolving Differences

China's Foreign Minister Qin Gang is welcomed by Philippine Foreign Secretary Enrique Manalo ahead of their meeting at the Diamond Hotel in Metro Manila on April 22, 2023. (Photo: AFP/Gerard Carreon)
China's Foreign Minister Qin Gang is welcomed by Philippine Foreign Secretary Enrique Manalo ahead of their meeting at the Diamond Hotel in Metro Manila on April 22, 2023. (Photo: AFP/Gerard Carreon)

The Philippines and China pledged on Saturday to work together to resolve their maritime differences in the South China Sea, where the two have competing claims, and to deepen bilateral ties.

Talks between the countries' foreign ministers mark the latest in a series of high-level meetings of the Philippines with leaders of the United States and China as the two superpowers battle for strategic advantage in the Indo-Pacific, Reuters reported.

Manila's relations with Beijing are more than just their differences over the South China Sea, Philippine Foreign Affairs Secretary Enrique Manalo said as he began talks with Chinese Foreign Minister Qin Gang in Manila.

"These differences should not prevent us from seeking ways of managing them effectively, especially with respect to enjoyment of rights of Filipinos, especially fishermen," Manalo said, adding that their livelihoods are undermined by incidents and actions in the waterway.

Since Philippine President Ferdinand Marcos Jr took office in June, the Philippines has filed dozens of diplomatic protests at the presence of Chinese fishing vessels and what it calls China's "aggressive actions" in the strategic waterway.

The two neighbors need to work together to continue a tradition of friendship, deepen cooperation and properly resolve differences, Qin said in his opening remarks.

Working together would help promote peace and stability of the region and the world, Qin said.

His visit comes just weeks after the Philippines announced the location of four additional US military bases, two of which are facing north towards Taiwan.

Qin is to meet Marcos later on Saturday, ahead of the president's meeting with US President Joe Biden in Washington in May.

More than 17,000 Philippine and US soldiers are conducting their largest ever joint military drills in the Southeast Asian country, drawing criticism from Beijing, Manila's rival in the South China Sea.

A landmark ruling by the Permanent Court of Arbitration in 2016 invalidated China's claims of sovereignty over almost all of the South China Sea, which sees the passage of about $3 trillion worth of ship-borne goods annually and is believed to be rich in minerals and oil-and-gas deposits.

Vietnam, Malaysia, Brunei, Indonesia and the Philippines have competing claims in portions of the waterway.



Trump Says Will Demand Interest Rates Drop 'Immediately'

President Donald Trump smiles as he signs executive orders in the Oval Office of the White House, Thursday, Jan. 23, 2025, in Washington. (AP Photo/Ben Curtis)
President Donald Trump smiles as he signs executive orders in the Oval Office of the White House, Thursday, Jan. 23, 2025, in Washington. (AP Photo/Ben Curtis)
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Trump Says Will Demand Interest Rates Drop 'Immediately'

President Donald Trump smiles as he signs executive orders in the Oval Office of the White House, Thursday, Jan. 23, 2025, in Washington. (AP Photo/Ben Curtis)
President Donald Trump smiles as he signs executive orders in the Oval Office of the White House, Thursday, Jan. 23, 2025, in Washington. (AP Photo/Ben Curtis)

US President Donald Trump said Thursday he would seek to bring interest rates lower by unleashing energy production, and would speak to the Federal Reserve if needed.

"I'll demand that interest rates drop immediately," he told the World Economic Forum in Davos, Switzerland, in a virtual address. "Likewise, they should be dropping all over the world. Interest rates should follow us all over."

The US Federal Reserve has a dual mandate from Congress to act independently to keep inflation and employment in check, primarily by raising and lowering the level of short-term interest rates, according to AFP.

As US president, Trump does not have a say over interest rate decisions, a fact that he has frequently criticized.

Trump told reporters in Washington later on Thursday that he would like to see interest rates come down "a lot," adding that lower oil prices should help them to fall.

"When the oil comes down, it'll bring down prices, he said. "Then you won't have inflation, and then the interest rates will come down."

Asked what he would do if the Fed did not lower interest rates, Trump said he would "put in a strong statement" and expected officials to listen to his views, adding that he would consider talking to Fed chair Jerome Powell if needed.

"I think I know interest rates much better than they do," he said. "And I think I know certainly much better than the one who's primarily in charge of making that decision."

"I'm guided by them very much, " he added. "But if I disagree, I will let it be known."