By Darryl John Esguerra | Philippine News Agency
Philippine exports to the United States will now be subject to a 19% tariff, down from the 20% Washington initially planned to impose, U.S. President Donald Trump announced following what he called a “beautiful visit” by President Ferdinand R. Marcos Jr. at the White House.
Part of the new deal includes granting zero tariffs for American products bound for the Philippines.
“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,” Trump posted on his Truth Social account early Wednesday (Manila time).
He also described Marcos as a “very good and tough negotiator.”
Latest data from the Philippine Statistics Authority showed that the US comprised the highest export value amounting to $1.115 billion, or 15.3% of the country’s total exports in May this year.
Marcos, the first Southeast Asian leader to meet with Trump during his second term, reaffirmed the bilateral alliance, calling the US the Philippines’ “strongest, closest, most reliable ally.”
Both leaders also signaled expanded military cooperation.
