FX.co ★ Trump Imposes 19% Tariff on the Philippines

President Donald Trump of the United States has announced the implementation of a 19% tariff on imports from the Philippines. This decision arises from trade negotiations following Filipino President Ferdinand Marcos Jr.’s recent visit to the White House. The newly established tariff is a slight decrease from the initially proposed 20% rate, announced on July 9. In reciprocity, President Trump declared that U.S. exports will not be subjected to import taxes in the Philippines. The White House has also disclosed details of a finalized trade agreement with Indonesia, wherein a 19% tariff will be applied to Indonesian imports. Moreover, a 40% tariff will target goods that are merely "transshipped" through third-party countries. Officials assured that "99%" of U.S. imports will remain free from tariffs. Lastly, the 19% tariff on Indonesian imports is notably lower than the previously suggested rate of 32%.