President Trump has announced a U.S.-Philippines trade deal following a White House meeting between the two countries on Tuesday.
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“It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs,” Trump said in a Truth Social post. “The Philippines will pay a 19% Tariff.” He added that the two countries will collaborate on military initiatives.
Trump Cuts Tariffs on the Philippines
Goods imported to the U.S. from the Philippines received a tariff reduction to 19%, although only by 1% from the previous rate of 20%.
In 2024, the U.S. exported $9.3 billion of goods to the Philippines and imported $14.2 billion of goods from the country. That adds up to a $4.9 billion goods trade deficit for the U.S.
According to TipRanks’ Trump Dashboard, the iShares MSCI Philippines ETF (EPHE) will likely be affected by the trade announcement.
