President Donald Trump announced a preliminary trade agreement with Philippine President Ferdinand Marcos Jr. after their meeting at the White House on Tuesday. Under the arrangement, the United States will slightly decrease its tariff on Philippine products, while American goods sold in the country would not be subject to import taxes.
Trump disclosed the general details of the accord on his Truth Social platform, adding that the United States and the Philippines also intend to deepen their military cooperation. This emerging framework reflects both nations’ efforts to reinforce security and economic links against a backdrop of evolving Indo-Pacific dynamics.
According to Trump, the U.S. plans to lower its tariff rate on imports from the Philippines to 19%, down from the previously threatened 20%, effective August 1. In exchange, the Philippines will maintain a policy of open markets, and U.S. exports will be exempt from Filipino tariffs.
The broader implications of this deal for the two countries’ economies remain uncertain, as specifics of the agreement have yet to be detailed.
Trump described President Marcos’s visit to Washington as “beautiful,” and characterized hosting him as a “Great Honor,” praising Marcos as both a “very good, and tough, negotiator.”
