U.S. President Donald Trump and Philippine President Ferdinand Marcos Jr. met at the White House on Tuesday to finalize a landmark trade deal that promises to reshape bilateral commerce.
According to Trump’s post on Truth Social, this agreement opens the Philippine market to U.S. goods with zero import duties, while setting a 19% tariff on certain imports from the United States. In a recent letter to Marcos, Trump also warned of a 20% tariff increase on Philippine goods starting August 1.
- Zero Tariffs: The Philippines opens its market to U.S. goods without import duties.
- 19% Tariff Commitment: Despite zero tariffs on U.S. merchandise, the Philippines will charge a 19% duty on certain imports.
- Future Tariff Hike: Trump’s letter warns of a 20% tariff increase on Philippine goods starting August 1.
Marcos Jr. hailed the deal as evidence that bilateral ties have “evolved into as important a relationship as is possible to have.”
This announcement highlights broader trends in global trade, as young entrepreneurs and digital nomads track how tariff policies influence supply chains, consumer prices, and market access. With zero tariffs on U.S. exports, American tech and agricultural products could become more competitive in the Philippine market, while Philippine exporters brace for higher levies.
While details from the White House are scarce, the deal underscores a strategic shift toward open markets amid rising global economic uncertainty. Business and tech enthusiasts will be watching closely to see how this agreement impacts startups, investors, and cross-border partnerships throughout the G20 and beyond.
Reference(s):
Trump announces trade deal after meeting Philippine president
cgtn.com
