Donald Trump announced a trade deal with the Philippines, implementing a 19 percent tariff on goods exported to the US. US goods will face no tariffs. The announcement was made on Truth Social following a meeting with President Ferdinand Marcos Jr at the White House. This rate is lower than the 20 percent previously threatened by Trump. Last year, the US had a nearly $5 billion trade deficit with the Philippines. In addition to trade, militaristic cooperation between the two nations was also emphasized by Trump.
United States President Donald Trump said he has reached a trade deal with the Philippines, charging it 19 percent tariff rate for goods it exports to the US.
The president announced the new agreement on Tuesday on his social media platform Truth Social shortly after his meeting with President Ferdinand Marcos Jr at the White House.
We concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, Trump said on his Truth Social platform after welcoming Marcos to the White House.
Trump underscored the importance of the US-Philippine military relationship, saying, They're a very important nation militarily, and we've agreed to work together.
Collection
[
|
...
]