US EditionTrump announces trade deal with the Philippines
WASHINGTON, D.C., JUL 22 – The agreement sets a 19% tariff on Philippine exports to the U.S. while eliminating tariffs on U.S. goods entering the Philippines and expands military cooperation, officials said.
- After meeting at the White House on Tuesday, President Donald Trump and Philippine President Ferdinand Marcos Jr. revealed a new trade deal between their countries.
- The deal was negotiated amid rising tensions in the South China Sea, where China asserts territorial claims and has clashed with the Philippines over disputed waters.
- The agreement calls for a 19% tariff on Philippine goods entering the U.S. while exempting American goods shipped to the Philippines from tariffs, though full details remain undisclosed.
- Trump described their meeting as "a beautiful visit," adding, "we concluded our Trade Deal," while Marcos emphasized the U.S.-Philippines alliance's role in regional peace and security.
- This agreement strengthens economic and military cooperation between the two nations amid shifting Indo-Pacific geopolitics and China’s increasing regional assertiveness.
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229 Articles
Peso rebounds to P56 level as Philippines finalizes trade deal with US - BusinessWorld Online
THE PESO rebounded to the P56-per-dollar level on Wednesday after the Philippines secured a slightly lower “reciprocal” tariff rate from the United States. The local unit closed at P56.881 per dollar, strengthening by 16.9 centavos from its P57.05 finish on Tuesday, Bankers Association of the Philippines data showed. This was the peso’s best close in over a week or since it ended at P56.73 on July 15, which was also the last time it finished at …
This is a transcript of what economist JC Punongbayan says in the video: Nineteen percent. That is the tariff that US President Donald Trump is imposing on us today after President Bongbong Marcos visited the White House on July 22. But if you look at it, it is only one percentage point lower than the tariff that Trump said in his letter to Marcos earlier this month. The 19% is still higher than the 17% tariff rate that Trump originally set for …
Trump cuts Pacific trade deals ahead of August tariff hike
President Donald Trump is finalizing a series of new trade agreements with key Pacific allies. The deals, reached with Japan, the Philippines and Indonesia, aim to lower trade barriers, attract foreign investment and reshape long-standing economic relationships. They are part of a broader push to reset tariff policies before a new round of import hikes takes effect on August 12. What are the key terms of the US-Japan trade deal? President Donald…
Trump announces Philippines trade deal
US President Donald Trump on Tuesday announced a trade deal with the Philippines after a White House meeting with the country’s leader, Ferdinand Marcos Jr. Under the agreement, American goods shipped to the Philippines won’t face any duties, while Philippine exports to the US will see a 19% tariff. That figure is in line with rates other Southeast Asian nations are set to face. Such deals mark short-term wins for US negotiators, but risk underm…
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