Philippine Ambassador to the United States Jose Manuel Romualdez expressed optimism about deepening the US-Philippines relationship, with a particular focus on enhancing defense and economic cooperation.
Romualdez revealed a recent meeting with US Deputy Secretary of Defense Stephen Feinberg, who is also the chairman of Cerberus Capital Management, describing this as a prime example of how economic and defense relations could be intertwined.
“This is a perfect example of how we can develop a relationship that combines both economic benefits and defense cooperation. Cerberus’s investment in Subic is vital for us, and it also strengthens our defense capabilities,” Romualdez said at a briefing organized by the US-Philippine Society on Tuesday, emphasizing the importance of a dual approach moving forward.
Feinberg’s firm Cerberus recently acquired the Subic shipyard.
Romualdez also reiterated the need for the Department of Trade and Industry (DTI) to seek additional avenues for cooperation, noting that mutual benefits should be at the forefront of these partnerships.
He said US President Donald Trump believes in fostering mutually beneficial relationships with allies, a principle that will continue to guide the direction of the Philippine-US relationship.
“We are seeking opportunities that not only strengthen our defense but also foster economic development. This will be the guiding principle of our approach in the coming years,” Romualdez said, adding that he hoped for a meaningful conversation between President Marcos and President Trump to bring these goals to realize these goals.
US Secretary of Defense Pete Hegseth and Philippine Secretary of National Defense Gilberto Teodoro Jr. held an introductory call on Feb. 5, 2025 to further discuss defense cooperation within the framework of the US-Philippines Alliance.
The call focused on the importance of reestablishing deterrence in the South China Sea, with an emphasis on collaboration with allies and partners.
Hegseth reaffirmed the US commitment to the 1951 Mutual Defense Treaty, which remains a cornerstone of the security arrangement between the two nations.