US-Philippines trade deal: Trump says Philippines talks ‘concluded’; Manila to pay 19% tariff

US president Donald Trump on Tuesday introduced that the Philippines will pay a 19% tariff beneath a brand new trade settlement between the 2 international locations.“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. The Philippines will pay a 19% tariff,” information company Reuters reported Trump as saying following a gathering with Philippine president Ferdinand Marcos on the White House.The bilateral assembly came about as each international locations search nearer safety and financial cooperation, notably amid China’s assertiveness within the South China Sea. Marcos’ go to is the primary by a South East Asian chief to Washington throughout Trump’s second time period and contains talks with prime US officers like secretary of state Marco Rubio and defence secretary Pete Hegseth. As the leaders met within the Oval workplace, Trump praised Marcos as a “tough negotiator” whereas suggesting that subjects of dialogue included “war and peace” in addition to trade. Marcos, in flip, mentioned the US has all the time been the Philippines’ “strongest partner” and reaffirmed Manila’s dedication to an impartial overseas coverage. Tensions over tariffs had surfaced forward of the go to. Trump had earlier threatened a 20% tariff on Filipino items until a deal was reached by August 1. Back in Manila, Marcos had indicated his readiness to negotiate, whereas finance secretary Ralph Recto mentioned the Philippines may provide zero tariffs on some US items in change. Meanwhile, China warned that any US-Philippine cooperation shouldn’t “target or harm” third events.