President Donald Trump has announced a new trade agreement with the Philippines following a White House meeting with President Ferdinand Marcos Jr.
Under the deal, Philippine goods exported to the U.S. will face a 19% tariff, while U.S. exports to the Philippines will be tariff-free. The agreement marks only a modest reduction from the previously threatened 20% tariff, leading some to question the significance of the concession. The deal is part of a broader U.S. strategy to strengthen alliances in Asia amid rising tensions with China.
Critics argue the high tariff could strain economic ties and impact Philippine exporters.
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