Trump says U.S. and the Philippines agree to a 19% tariff deal
President Donald Trump said in a post on Truth Social that the Philippines have agreed to a 19% tariff deal
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President Donald Trump said Tuesday the Philippines will pay 19% in tariffs to the U.S.
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The president announced the trade agreement on his social media platform Truth Social shortly after Philippine President Ferdinand Marcos Jr. left the White House.
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Trump called the visit “beautiful” and said the two “concluded” their trade deal, saying, “The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs. The Philippines will pay a 19% Tariff.”
He also implied that the U.S. and the Philippines had agreed to some sort of military agreement, saying, “we will work together Militarily.”
Trump had said during a press conference with Marcos in the Oval Office that they were “very close to finishing a trade deal.”
The Philippines had not yet confirmed Trump’s trade and military announcement, according to CNBC.
Trump's post comes after Treasury Secretary Scott Bessent signaled earlier that an Aug. 12 deadline to reach a sweeping U.S.-China trade agreement could be extended, a step toward avoiding an escalation between two economic powerhouses that would roil the global economy.
So far, only three trade agreements have been struck with the U.K., Indonesia, and Vietnam. The Trump administration has sent letters to over two dozen countries this month warning about double-digit tariffs snapping back in place on August 1 if no agreement is reached to reorient their commerce on what they deem as favorable terms towards the U.S.
- Joseph Zeballos-Roig contributed to this article.