MANILA, Philippines — The Philippines has secured a new trade agreement with the United States that will lower tariffs on Philippine exports to 19%, following talks between President Ferdinand Marcos Jr. and U.S. President Donald Trump.
The agreement, reached during a high-level meeting this week, reduces U.S. duties from the initially proposed 20% and is expected to provide relief to Philippine exporters facing rising global trade pressures.
In exchange, the Philippines has agreed to lift tariffs on a number of U.S. goods, including automobiles, a move that could widen the American export footprint in the country.
Officials from both governments hailed the deal as a step toward strengthening bilateral economic cooperation, particularly as both nations navigate shifting regional trade dynamics.
“This agreement ensures our exporters remain competitive in the U.S. market while also creating new opportunities for American businesses in the Philippines,” Marcos said in a statement.
The U.S. remains one of the Philippines’ top trading partners, with the pact expected to support Philippine industries ranging from electronics and agriculture to textiles.
Analysts noted that while the 1% tariff reduction appears modest, the deal represents a strategic balance—keeping Philippine exports competitive while deepening trade and security cooperation between the two allies.
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