<p>US President Donald Trump announced on Tuesday (July 23) that the United States and the Philippines have concluded a trade agreement following President Ferdinand Marcos Jr.’s visit to the White House. The deal, according to Trump, will see the Philippines open its markets to the US with zero tariffs, while Manila will face a 19% tariff rate on its exports to America.</p><p><strong>Also read: </strong><a href="https://www.wionews.com/world/jeffrey-epstein-files-trigger-early-house-shutdown-what-mike-johnson-rep-massie-and-maga-are-fighting-over-all-you-need-to-know-1753202729393"><strong>Jeffrey Epstein files trigger early House shutdown: What Mike Johnson, Rep. Massie, and MAGA are fighting over - All you need to know</strong></a></p><p>“It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs,” Trump wrote on Truth Social. He added, “In addition, we will work together Militarily. It was a Great Honor to be with the President. He is Highly Respected in his Country, as he should be. He is also a very good, and tough, negotiator.”</p><h2><strong>Did Philippines confirm this deal?</strong></h2><p>As of now, the Philippine government has not officially confirmed that a deal has been finalised. During his meeting with Marcos Jr in the Oval Office earlier that day, Trump had told reporters, “He’s negotiating too tough,” but suggested they would “probably agree to something.”</p><h2><strong>How does this compare to earlier tariff threats?</strong></h2><p>The 19% tariff announced by Trump is higher than the 17% “reciprocal” duty the US briefly imposed in April, but slightly lower than the 20% he threatened earlier this month in letters to several countries, including the Philippines.</p><p>In April, the Trump administration briefly levied a 17% tariff on goods from Manila, only to suspend it later. Now, with a looming 1 August deadline to hike tariffs on dozens of trading partners, Trump appears to be finalising new agreements on his terms.</p><p>Unlike previous trade arrangements where both sides agreed to cut duties, this deal appears heavily weighted in the US’s favour. While the US will pay no tariffs and gain full access to the Philippine market, the Philippines will have to pay a double-digit rate to sell into the US.</p><h2><strong>How similar is the Philippines trade deal to that of Indonesia?</strong></h2><p>The Philippines deal mirrors one Trump says he struck with Indonesia. Jakarta will face the same 19% tariff on goods going to the US, while American exports will enter Indonesia with zero tariffs. “They are going to pay 19% and we are going to pay nothing. We will have full access into Indonesia, and we have a couple of those deals that are going to&nbsp;be&nbsp;announced,” Trump said.</p>

Shortly after Philippine President Ferdinand Marcos Jr’s White House visit, Donald Trump took to Truth Social to announce a trade deal between Washington and Manila. Under the new agreement, Philippines is facing 19% tariffs while US products entering the Asian country will not face any tariff. 

US President Donald Trump announced on Tuesday (July 23) that the United States and the Philippines have concluded a trade agreement following President Ferdinand Marcos Jr.’s visit to the White House. The deal, according to Trump, will see the Philippines open its markets to the US with zero tariffs, while Manila will face a 19% tariff rate on its exports to America. Also read: Jeffrey Epstein files trigger early House shutdown: What Mike Johnson, Rep. Massie, and MAGA are fighting over - All you need to know “It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs,” Trump wrote on Truth Social. He added, “In addition, we will work together Militarily. It was a Great Honor to be with the President. He is Highly Respected in his Country, as he should be. He is also a very good, and tough, negotiator.” Did Philippines confirm this deal? As of now, the Philippine government has not officially confirmed that a deal has been finalised. During his meeting with Marcos Jr in the Oval Office earlier that day, Trump had told reporters, “He’s negotiating too tough,” but suggested they would “probably agree to something.” How does this compare to earlier tariff threats? The 19% tariff announced by Trump is higher than the 17% “reciprocal” duty the US briefly imposed in April, but slightly lower than the 20% he threatened earlier this month in letters to several countries, including the Philippines. In April, the Trump administration briefly levied a 17% tariff on goods from Manila, only to suspend it later. Now, with a looming 1 August deadline to hike tariffs on dozens of trading partners, Trump appears to be finalising new agreements on his terms. Unlike previous trade arrangements where both sides agreed to cut duties, this deal appears heavily weighted in the US’s favour. While the US will pay no tariffs and gain full access to the Philippine market, the Philippines will have to pay a double-digit rate to sell into the US. How similar is the Philippines trade deal to that of Indonesia? The Philippines deal mirrors one Trump says he struck with Indonesia. Jakarta will face the same 19% tariff on goods going to the US, while American exports will enter Indonesia with zero tariffs. “They are going to pay 19% and we are going to pay nothing. We will have full access into Indonesia, and we have a couple of those deals that are going to be announced,” Trump said.

<p>Shortly after President Ferdinand Marcos Jr’s White House visit, Donald Trump took to Truth Social to announce a trade deal between Washington and Manila. Under the new agreement, Philippines is facing 19% tariffs while US products entering the Asian country will not face any tariff.&nbsp;</p>

‘Philippines going open market with US’: Decoding Trump’s trade deal with Manila - How much tariff will the Philippines pay?

<p>US President Donald Trump has said he is confident the United States will soon strike a trade agreement with the Philippines, as he welcomed President Ferdinand Marcos Jr to the White House on Tuesday. “We’re very close to finishing a trade deal. A big trade deal, actually,” Trump said during the Oval Office meeting. “He’s a very tough negotiator. So far, we’re not there because he’s negotiating too tough,” he added.</p><p><strong>Also read: </strong><a href="https://www.wionews.com/world/jeffrey-epstein-files-trigger-early-house-shutdown-what-mike-johnson-rep-massie-and-maga-are-fighting-over-all-you-need-to-know-1753202729393"><strong>Jeffrey Epstein files trigger early House shutdown: What Mike Johnson, Rep. Massie, and MAGA are fighting over - All you need to know</strong></a></p><p>Despite the tough talks, Trump added, “We’ll probably agree on something.” He also noted the growing business between the two countries. “I was surprised to see the kind of numbers – they’re very big and they’re going to get bigger under what we’re doing and what we’re proposing.”</p><h2><strong>What did Marcos Jr say about the US relationship?</strong></h2><p>President Marcos Jr said he was “very happy” to meet Trump and reaffirm “the very strong ties between the Philippines and the United States.” “The strongest, closest, most reliable ally has always been the United States,” he said. Marcos also described the US as the Philippines’ “only treaty partner,” he added.</p><h2><strong>What triggered the trade tensions?</strong></h2><p>The Philippines was one of several countries to receive letters from Trump earlier this month, warning of 20% tariffs on all goods entering the US starting 1 August, an increase from an earlier 17% threat. The tariff warning came despite the two countries’ growing military cooperation. Under former president Joe Biden, the US deployed ground-launched missiles in the Philippines in 2023 amid rising tensions with China. The US has also been considering ammunition production in the Philippines.</p><h2><strong>Marcos links defence push to China tensions</strong></h2><p>“All of what we consider part of the modernisation of the Philippine military is really a response to the circumstances that surround the situation in the South China Sea,” Marcos said. “We are essentially concerned with the defence of our territory and the exercise of our sovereign rights,” he added. The Philippines has long been a key strategic ally for the US in the Indo-Pacific region and was once a US colony. The US naval base at Subic Bay was closed in 1992 due to local pressure, but ties have since grown stronger again.</p><h2><strong>Trump attacks Fed chair during same meeting</strong></h2><p>In a separate comment during his White House meeting, Trump lashed out at Federal Reserve chairman Jerome Powell, calling him a “numbskull.” Trump criticised Powell for not cutting interest rates fast enough. “I think he’s done a bad job. But he’s going to be out pretty soon anyway, in eight months, he’ll be out,” Trump said. He also claimed Powell’s refusal to lower rates may be “probably for political reasons.”</p>

The Philippines was one of several countries to receive letters from Trump earlier this month, warning of 20% tariffs on all goods entering the US starting 1 August, an increase from an earlier 17% threat. 

US President Donald Trump has said he is confident the United States will soon strike a trade agreement with the Philippines, as he welcomed President Ferdinand Marcos Jr to the White House on Tuesday. “We’re very close to finishing a trade deal. A big trade deal, actually,” Trump said during the Oval Office meeting. “He’s a very tough negotiator. So far, we’re not there because he’s negotiating too tough,” he added. Also read: Jeffrey Epstein files trigger early House shutdown: What Mike Johnson, Rep. Massie, and MAGA are fighting over - All you need to know Despite the tough talks, Trump added, “We’ll probably agree on something.” He also noted the growing business between the two countries. “I was surprised to see the kind of numbers – they’re very big and they’re going to get bigger under what we’re doing and what we’re proposing.” What did Marcos Jr say about the US relationship? President Marcos Jr said he was “very happy” to meet Trump and reaffirm “the very strong ties between the Philippines and the United States.” “The strongest, closest, most reliable ally has always been the United States,” he said. Marcos also described the US as the Philippines’ “only treaty partner,” he added. What triggered the trade tensions? The Philippines was one of several countries to receive letters from Trump earlier this month, warning of 20% tariffs on all goods entering the US starting 1 August, an increase from an earlier 17% threat. The tariff warning came despite the two countries’ growing military cooperation. Under former president Joe Biden, the US deployed ground-launched missiles in the Philippines in 2023 amid rising tensions with China. The US has also been considering ammunition production in the Philippines. Marcos links defence push to China tensions “All of what we consider part of the modernisation of the Philippine military is really a response to the circumstances that surround the situation in the South China Sea,” Marcos said. “We are essentially concerned with the defence of our territory and the exercise of our sovereign rights,” he added. The Philippines has long been a key strategic ally for the US in the Indo-Pacific region and was once a US colony. The US naval base at Subic Bay was closed in 1992 due to local pressure, but ties have since grown stronger again. Trump attacks Fed chair during same meeting In a separate comment during his White House meeting, Trump lashed out at Federal Reserve chairman Jerome Powell, calling him a “numbskull.” Trump criticised Powell for not cutting interest rates fast enough. “I think he’s done a bad job. But he’s going to be out pretty soon anyway, in eight months, he’ll be out,” Trump said. He also claimed Powell’s refusal to lower rates may be “probably for political reasons.”

<p>The Philippines was one of several countries to receive letters from Trump earlier this month, warning of 20% tariffs on all goods entering the US starting 1 August, an increase from an earlier 17% threat.&nbsp;</p>

‘Tough negotiator’: Trump says trade deal with Philippines ‘very close,’ praises Marcos Jr; slams Fed chair as ‘numbskull’

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‘Philippines going open market with US’: Decoding Trump’s trade deal with Manila - How much tariff will the Philippines pay?

Trump says trade deal with Philippines ‘very close,’ praises Marcos Jr