BUSAN, Nov. 1 -- President Ferdinand R. Marcos Jr. on Saturday welcomed the easing of trade tensions between the United States and China, calling it a positive development for the global economy and for countries like the Philippines, after the two economic giants reportedly agreed to a temporary truce on the sidelines of the just-concluded APEC Summit.

Marcos said he received limited details about the outcome of the talks between President Donald Trump and Xi Jinping. Early reports, however, suggested that Washington and Beijing have agreed to "declare peace for at least a year," signaling a temporary de-escalation in their tariff conflict.

"The best information I got says that they have declared peace for at least a year. So, the trad...