(US, 23rd) — US President Trump announced on social media on the 22nd that a trade agreement has been reached with visiting Philippine President Ferdinand Marcos Jr.
He said that the Philippines will open its market to the US and implement zero tariffs, while the US will impose a 19% tariff on goods imported from the Philippines.
Earlier that day, Trump held bilateral talks with Marcos Jr. at the White House.
He said: "This was a wonderful visit, and we completed a trade agreement."
On the 9th, Trump had sent a letter to Marcos Jr., stating that from August 1, the tariff on Philippine products exported to the US would be raised from the 17% announced in early April to 20%.
He said that the Philippines will open its market to the US and implement zero tariffs, while the US will impose a 19% tariff on goods imported from the Philippines.
Earlier that day, Trump held bilateral talks with Marcos Jr. at the White House.
He said: "This was a wonderful visit, and we completed a trade agreement."
On the 9th, Trump had sent a letter to Marcos Jr., stating that from August 1, the tariff on Philippine products exported to the US would be raised from the 17% announced in early April to 20%.