President Rodrigo Duterte raised on Friday deep concern over the trade war between the United States and China.

In a speech at the Nikkei forum in Japan, Duterte said the ongoing trade war is creating uncertainty and tension.

"We are deeply concerned about the ongoing trade war between the US and China and it is creating uncertainty and tensions," he said.

"It is causing downward stress of the global economy. It is becoming a protracted war on the global trade and investments everywhere. The world is watching in earnest," he added.

Duterte said there should be a resolution soon.

The US has blacklisted over 140 Chinese entities, including Huawei.

China, on the other hand, has been threatening to restrict US access to rare earth minerals, which are crucial for the development of many high-tech devices. Celerina Monte/DMS