US Reaches Trade Agreement with Philippines: "19% Reciprocal Tariff on Philippine Goods, 0% on US Products"

Trump Announces "Military Cooperation" on Social Media

The United States has reached a trade agreement with the Philippines. Under the agreement, the United States will impose a 19% tariff on imports from the Philippines, while U.S.-made products will be exported to the Philippines tariff-free.

Reuters Yonhap News

On July 22 (local time), U.S. President Donald Trump announced via his social networking service (SNS), Truth Social, that he had held a summit meeting with Philippine President Ferdinand Marcos at the White House and reached this agreement.

President Trump said, "It was a beautiful visit," and added, "The Philippines has agreed to open its market to the United States and apply zero tariffs." He continued, "We will also cooperate militarily."

Previously, in a tariff letter sent to President Marcos on July 9, President Trump had specified a reciprocal tariff rate of 20%. Under the new trade agreement, the tariff rate, effective from August 1, will be 19%, which is 1 percentage point lower than before.

With this, the number of countries with which the United States has concluded trade agreements has increased to four: the United Kingdom, Vietnam, Indonesia, and now the Philippines.

This content was produced with the assistance of AI translation services.