US-Philippines Trade Talks Yield Modest Tariff Shift After Trump-Marcos Meeting
U.S. President Donald Trump, flanked by Treasury Secretary Scott Bessent, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, meets with Philippine President Ferdinand Marcos Jr., at the White House in Washington, D.C., U.S., July 22, 2025 | REUTERS/Kent Nishimura
In an article by Reuters, Andrea Shalal and Trevor Hunnicutt discuss the trade deal between the Philippines and the United States.
U.S. President Donald Trump announced a new 19% tariff rate for goods from the Philippines on Tuesday after what he called a "beautiful visit" by Philippine President Ferdinand Marcos Jr. to the White House, and said U.S. goods would pay zero tariffs.
The new tariff rate is just below the 20% threatened by Trump earlier this month, but still above the 17% rate set in April when Trump announced what he called reciprocal tariff rates for dozens of countries. It matches the 19% rate announced for Indonesia and bests Vietnam's slightly higher rate of 20%.
