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Trump announces trade deal with Philippines, sets tariff at 19 percent

( July 23, 2025, 07:45 GMT | Official Statement) -- MLex Summary: The US has reached a trade deal with the Philippines during President Ferdinand Marcos Jr.'s visit to the White House, according to President Donald Trump. In a post on Truth Social, Trump said the deal includes the Philippines opening its market to US goods with zero tariffs, while Philippine exports to the US will face a 19 percent tariff. This is slightly down from the 20 percent announced earlier this month, but higher than the 17 percent reciprocal tariff first announced in April. Trump also cited plans for closer military cooperation between the two countries. Trump's Truth Social post follows:...

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