&imwidth=800&imheight=600&format=webp&quality=medium "‘Philippines going open market with US’: Decoding Trump’s trade deal with Manila - How much tariff will the Philippines pay?")
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.
“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?
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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 tobeannounced,” Trump said.
