Washington — President Trump announced a trade deal with the Philippines after meeting with the country’s president at the White House on Tuesday, an announcement he followed with details of another trade agreement with Indonesia later in the day.
Mr. Trump announced the Philippines tariffs agreement after a trade-focused Oval Office meeting with Philippine President Ferdinand “Bongbong” Marcos Jr. The tariff rate for goods imported into the U.S. from both the Philippines and Indonesia will be 19%, the president said.
In a post on Truth Social, Mr. Trump said the Philippines will lift all tariffs on imported U.S. goods. The Philippines has not yet confirmed the existence of an agreement or any details.
“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,” Mr. Trump wrote. “The Philippines will pay a 19% Tariff. In addition, we will work together Militarily. It was a Great Honor to be with the President. He is Highly Respected in his Country, as he should be. He is also a very good, and tough, negotiator. We extend our warmest regards to the wonderful people of The Philippines!”
The 19% tariff rate is just shy of the 20% tariff rate the Trump administration was set to impose on the Philippines. And it’s also higher than the so-called reciprocal tariff of 17% on Philippine imports the administration announced in April.
In his Oval Office meeting, Mr. Trump said the U.S. and the Philippines were “very close” to reaching a deal, calling Marcos a tough negotiator.
“We’re very close to finishing a trade deal, big trade deal,” Mr. Trump said, seated alongside Marcos. “And we do a lot of business with you, so a lot of income coming in for both groups.”
The U.S. and Indonesia released a joint statement Tuesday afternoon with details of their trade deal.
Under the terms, which the president has teased before, Indonesian products will also face a 19% tariff rate, but U.S. products heading to Indonesia generally will not face tariffs. According to the joint statement, Indonesia will drop its tariff rate to zero for 99% of its trade with the U.S.
“It is agreed that Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers,” Mr. Trump wrote on Truth Social. “The United States of America will now sell American-made products to Indonesia at a Tariff Rate of ZERO, while Indonesia will pay 19% on all of their products coming into the U.S.A. — The Best Market in the World!”
Goods that are “transshipped or contain a lot of content from certain countries” through Indonesia will be tariffed at 40%, a senior administration official told reporters on a conference call about the agreement.
Among other aspects of the deal, Indonesia will also remove export restrictions on critical minerals and accept U.S. Food and Drug Administration certificates and prior marketing authorization for medical devices and pharmaceuticals.
Aug. 1 is the Trump administration’s current deadline for countries to reach trade agreements with the U.S. or face higher tariff rates on goods sent to the U.S.
