US-Philippines Society Board of Directors led by Co-chairs Jaime Augusto Zobel de Ayala and Ambassador John Negroponte held the first bilateral private sector-led mission to the Philippines, February 10-11, since the new U. S. administration took office. The overall theme "Outlook 2025" provided a preview of global and regional trends, domestic policy priorities, political dynamics leading to the Philippines mid-term elections and opportunities for two-way PH-U.S. trade and investment engagements across traditional and emerging key sectors including semiconductors and electronics, green energy, mining and minerals processing, EV components and processing, and education and capacity building. Ambassador to the United States Jose Manuel G. Romualdez hosted Society directors at a Welcome Reception, February 10, held in the Goldenberg Mansion, a Philippine Heritage Mansion.

Co-chair Jaime Augusto Zobel de Ayala invited U.S. investors to collaborate in bilateral private sector partnerships to sustain economic expansion amid global volatility.

Co-chair Ambassador John Negroponte discussed challenges and early uncertainties from trade directives under the new U.S. administration and recommended a patient approach to managing risks and exploring opportunities.

Amb John Negroponte and House Speaker Martin Romualdez, Welcome Reception, Goldenberg Mansion, Feb 10

Co-chair Jaime Zobel de Ayala, Amb Jose Manuel Romualdez, and Foreign Affairs Secretary Enrique Manalo

Mr. Ramon Ang with Society directors Enrique Razon, Amb Romualdez, Co-chair Jaime Zobel de Ayala and Mr. Sabin Aboitiz

The binational Society Board welcomed new directors: Sabin Aboitiz (Aboitiz Equity Ventures, Inc), Amb (ret) Paul Jones (Squire Patton Boggs) Federico Lopez (First Philippine Holdings Corp), Rob McAdam (McAdam's Fish LLC), Cindy Pasky (Strategic Staffing Solutions), Christopher Po (Century Pacific Food, Inc.), Lucio Tan III (Lucio Tan Group), Manuel Villar, Jr. (VistaLand & Lifescapes), Josephine Gotianun-Yap (Filinvest Development Corporation), and Helen Yuchengco Dee (Yuchengco Group of Companies).

US-Philippines Society Board of Directors held its 2025 Annual Board Meeting in Manila, 11 Feb.

During the Feb 11 board meeting attended by current and new directors, U.S. Ambassador to the Philippines MaryKay Carlson was presented the 2025 Carlos P. Romulo Award by Co-chairs Negroponte and Jaime Zobel in recognition of her tireless and exemplary diplomatic service in strengthening U.S.-Philippines relations amid regional and global challenges.

The two-day series of panel presentations by top business executives, foreign policy practitioners, trade and bank economists, and security and political analysts explored challenges and avenues of opportunities that impact the bilateral relations during the second Trump administration.

Geopolitical Challenges and Transformative Foreign Policy Agenda

Co-chair Jaime Augusto Zobel de Ayala led the opening session on Global Trends and its impact on the Philippines which continues to possess potential for growth, a young and dynamic population, and a growing middle income population. Amb. Jose Manuel Romualdez expressed optimism on PH-U.S. relations that combines dual economic benefits and security cooperation. He related a Feb 5 introductory phone call between Philippine Defense Secretary Gilberto Teodoro and U.S. Defense Secretary Pete Hegseth with productive discussions for "ongoing collaborative efforts and future investments for increased deterrence and defense industry development, and extending alliance with like-minded allies." ASEC JV Chan Gonzaga provided an excellent overview of key foreign policy issues in the bilateral relationship and cited areas for continued cooperation in the period ahead.

Photo (l-r): Co-chair Amb John Negroponte, Ambassador Jose Manuel Romualdez, Amb Thomas Hubbard, DFA ASEC Jose Victor Chan-Gonzaga, and Co-chair Jaime Augusto Zobel de Ayala.

Amb Paul Jones delivered the Luncheon Keynote Address on the Implications for Business and Governments under policy direction of the Trump Administration.

Impact of U.S. Investments

The afternoon session opened with CSIS Southeast Asia Program Director Greg Poling's review of the historical significance of U.S.-Philippines economic engagements over the last century and today’s largest employers and FDI inflows including from business processes operations. In January 2025, PSA reported Philippine exports to the U.S. comprised the highest export value amounting to USD 1.13 billion or a share of 17.7 percent to the country’s total exports.

US-Philippines Society Director George Drysdale provided an American perspective as President and CEO of a thriving diversified Philippine-based holding and management company with interests in agribusiness, tourism and medical products. Drysdale took part in the inaugural events in Washington in January and shared his insider's view of the Trump administration.

Greg Poling

Director, CSIS Southeast Asia Program

George Drysdale

Marsman Drysdale Group

Photo (l-r): Executive Director Hank Hendrickson (moderator), CSIS Southeast Asia Program Director Greg Poling, PGC Commo Jay Tarriela, and USIP Country Director Haroro Ingram

Leading political analysts Richard Heydarian and Marites D. Vitug

Women in Leadership

Three leading Philippine women executives and US-Philippines Society Director Maan Hontiveros with Karen Batungbacal (Co-founder of IBPAP), Maria Teresita Dagdag (President and GM Southeast Asia of The Clorox Company), and Aileen Judan-Jiao (IBM Country Manager) described how to navigate expansion in the Philippine business and IT environment, identify opportunities for personal career advancements, and efforts for PH-U.S. collaboration as chief executives of top American companies with enduring presence in Asia.

Panelists: l-r Maan Hontiveros (moderator), Karen Batungbacal (IBPAP),Maria Teresita Dagdag (The Clorox Company-SEA), and Aileen Judian-Jiao (IBM Philippines). 

Philippine Strategic Positioning: Trade, Investment and Development

On the second day, DTI Undersecretary Ceferino Rodolfo briefed directors on the Philippines' positive growth outlook in comparison among Southeast Asian countries based on projections by leading monetary banks. Various executive orders including establishment of Green Lanes for Strategic Investments and legislative amendments expanding CREATE MORE to lower corporate taxes and broader application were passed to incentivize local businesses and open foreign investments and partnerships in the Philippines. USEC Rodolfo discussed priority sectors including green metals sector, EV production and how the Philippines is strategically positioned citing the Philippines rich deposits of nickel and ore. U.S trade deficit, a priority for reduction by the Trump administration, stands at $4 Billion with the Philippines in 2023, the lowest among U.S. Asian partners.

Bank of the Philippines Islands Lead Economist Emilio Neri forecasts lower inflation, improving employment numbers, policy rates and election spending support 6 % GDP growth. However lingering effects caused by typhoons to food supply pose risks. 11 February 2025, Makati City.

Trade lawyer and former Deputy Assistant USTR for Southeast Asia Ronald Baumgarten

U.S. Trade lawyer Ronald Baumgarten previewed the Trump administration policy objectives, timeline of agencies' review of existing trade agreements and consideration for bilateral and sectoral agreements, and the significance of the US-Philippines Trade and Investment Framework Agreement. The Philippines remains a trusted and strategic partner of the U.S. in the Indo-Pacific. By tying security agreement with economic cooperation with the U.S. under the new administration, the Philippines is seen as among the least adversely affected among ASEAN nations as U.S. trade policies unfold.

The Business Forum concluded with informative panel presentations on semiconductors and manufacturing, AI technology by iPeople President Alfredo Ayala, and Director of DigiPlus Interactive Arthur Tan. Program Director for Arangkada Project Katie Stuntz briefed on the AmCham Philippines' mission. Dr. Majah Leah Ravago, President of the Development Academy of the Philippines, provided an overview of public sector management capacity-building to meet professional and governance requirements necessary to implement the administration's socio-economic agenda. Pavit Ramachandran, ADB Country Director for the Philippine Office, presented partnership development priorities with the Philippines.

As a result of streamlined U.S. foreign aid program under the U.S. Agency for International Development (USAID), PDRF Rene Meily explained stifled implementation of key programs, the climate resilient cities program, public-private partnership to strategically plan for disaster risks and distribution of resources, and small and medium-sized businesses resiliency and recovery after a disaster.

Preview of the 80th Anniversary Commemorating the Battle of Manila

US-Philippines Society delegation visited the Manila American Cemetery, Feb 12, 2025.

Co-chair Jaime Augusto Zobel de Ayala and Founding Director Amb Thomas Hubbard led a delegation of Society members in a February 12 tour of the Manila American Cemetery and Memorial in honor of lost lives including Filipino scouts who fought alongside Americans during the fight for the Pacific in WWII. The program previewed a commemorative celebration of the 80th Anniversary of the Battle of Manila.