WASHINGTON — President Donald Trump announced that he had reached a trade deal with the Philippines, following a meeting at the White House on Tuesday with President Ferdinand Marcos Jr.
Trump wrote Tuesday afternoon on Truth Social that he had a “beautiful visit” with Marcos and concluded a trade deal that would put a 19% tariff on exports from the Philippines. American goods going into the country would face zero tariffs, he said, and the countries would expand their military cooperation. The White House did not offer immediate details to confirm the terms.
The deal will provide more trade certainty for the Southeast Asian country, though it only appears to slightly lower tariffs compared with what Trump had previously threatened. Earlier this month, Trump informed the Philippines in a letter posted to his social media account that he would charge their exports a 20% tariff as of Aug. 1, as he sent dozens of letters to other countries.
The tariffs on the Philippines are also broadly in line with those Trump has agreed on with other Southeast Asian nations that have struck deals. The president previously announced a deal with Indonesia that would impose a 19% tariff on the country’s exports and a deal with Vietnam with 20% tariffs, though the status of the Vietnam deal now appears to be in dispute.
The Trump administration fell well short of its goal of securing 90 trade deals in 90 days by early July, negotiating only a handful. The White House says that it has, so far, reached framework agreements with Britain, Vietnam and Indonesia, plus a trade truce that rolled back tariffs with China.
Other governments are furiously negotiating with the United States in an attempt to lower their own tariff rates. Trump has said that the higher rates will kick in Aug. 1, and promised that he will not delay that deadline again.
Before leaving for the United States, Marcos said his primary goal was to make sure that trade between the two nations was strong.
“My top priority for this visit is to push for greater economic engagement, particularly through trade and investment between the Philippines and the United States,” he said.
This article originally appeared in The New York Times. Luke Broadwater and Ana Swanson wrote this article. Photo courtesy of Kenny Holston.
