Trump Announces Trade Deal With Philippines With 19% Tariffs

The two countries also reportedly agreed to strengthen military cooperation.

US President Trump has signed a trade deal with the Phillippines. (Image: NDTV Profit)

US President Donald Trump on Tuesday said the Philippines would become an "open market" for American goods with zero tariffs, while paying a 19% tariff itself, marking what he described as a successful trade deal between the two nations.

In a post following Philippine President Ferdinand Marcos Jr's visit to the White House, Trump called it a "beautiful visit" and praised Marcos as a "very good, and tough, negotiator". The two also reportedly agreed to strengthen military cooperation.

"We extend our warmest regards to the wonderful people of The Philippines!" Trump wrote.

Also Read: Thailand Says Nearing Deal With US To Lower 36% Export Tariff

Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit. Feel free to Add NDTV Profit as trusted source on Google.
WRITTEN BY
Divya Prata
Divya Prata is a desk writer at NDTV Profit, covering business and market n... more
GET REGULAR UPDATES
Add us to your Preferences
Set as your preferred source on Google