Trump Imposes 19% Tariff on Philippines
US President Donald Trump announced that a 19% tariff will be imposed on goods from the Philippines, following trade talks sparked by Philippine President Ferdinand Marcos Jr.'s recent visit to the White House.
The new tariff is slightly lower than the 20% tariff originally announced on July 9. As part of the deal, Trump stated that US exports will not be subject to import taxes in the Philippines. The White House also revealed new details of the finalized trade agreement with Indonesia, under which the 19% tariff will apply to Indonesian goods.
In addition, a 40% tariff will be imposed on any goods "reshipped" through a third country. Officials added that no tariffs will apply to "99%" of US imports. The new tariff for Indonesia is lower than the previously proposed 32% tariff.(ayu)
Source: Trading Economics