US-Filippines Trade Deal: Trump says that Philippines discussed ‘concludes’; Manila to pay 19% rate – Times of India

US President Donald Trump announced on Tuesday that the Philippines will pay a rate of 19% under a new trade agreement between the two countries.“It was a wonderful visit and we concluded our trade agreement, with the Philippines going an open market with the United States and zero rates. The Philippines will pay a rate of 19%, “Reuters Trump reported as after a meeting with Filipino President Ferdinand Marcos in the White House.The bilateral meeting took place as both countries seek safety and economic cooperation, in particular in the midst of China’s assertiveness in the South Chinese Sea. Marcos’s visit is the first of a Southeast -Asian leader in Washington during the second term of Trump and includes conversations with top -american officials such as State Secretary Marco Rubio and Minister of Defense Pete Hegseeth. While the leaders met in the Oval Office, Trump praised Marcos as a “tough negotiator”, suggested that topics of discussion “war and peace” and trade include. Marcos, in turn, said that the US has always been the ‘strongest partner’ of the Philippines and re -confirmed the dedication of Manila to an independent foreign policy. The tensions about rates had surfaced before the visit. Trump had previously threatened a 20% rate on Filipino goods, unless a deal was reached in Manila. In Manila, Marcos had indicated that he was willing to negotiate, while financial secretary Ralph Recto said that the Philippines can offer zero rates on some American goods in exchange. In the meantime, China warned that every American cooperation may not “direct or harm” third parties.