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US agrees to reduce tariffs for Philippines

In a post on Truth Social shortly afterward, Trump said that while the Philippines will open up completely to US goods, he will still impose a 19% tariff on products from the Southeast Asian country, a major exporter of high-tech items and apparel.

Washington D.C. (VNA) - US President Donald Trump on July 22 agreed to reduce tariffs on the Philippines by one percentage point, after what he termed a successful meeting with his Philippine counterpart Ferdinand Marcos.

Welcoming Marcos to the White House, Trump called him a "very tough negotiator" and said the two sides are very close to finishing a big trade deal.

In a post on Truth Social shortly afterward, Trump said that while the Philippines will open up completely to US goods, he will still impose a 19% tariff on products from the Southeast Asian country, a major exporter of high-tech items and apparel.

The Philippines was among dozens of economies confronted by Trump with letters this month warning of 20% tariffs on all goods exported to the US from August 1.

The post also quoted Trump as saying that the US and the Philippines will enhance military cooperation. The announcement of a trade agreement framework comes as Washington and Manila are working to strengthen closer security and economic ties./.

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