Marcos wants 'trade, not aid’ from US, open to economic pact

Ferdinand 'Bongbong'Marcos Jr meets with US Chargé d'Affaires Heather Variava at Mandaluyong, Philippines onMay 23, 2022. - AP

MANILA (Bloomberg): Philippine presumptive President Ferdinand 'Bongbong' Marcos Jr said he wants to boost trade ties with the US instead of a "dependence” on aid, and signaled openness to join an economic initiative pushed by President Joe Biden to counter China’s influence.

Marcos, who is set to take office on June 30, said he wants to attract more private investments and joint ventures from the US -- one of the Philippines’ top trading partners -- even as he welcomes economic assistance.