Trump announces trade deals with Japan, Philippines, and Indonesia

Trump met Tuesday with Philippine President Ferdinand “Bongbong” Marcos Jr. at the White House, later announcing a deal under which the U.S. would export goods to the Philippines tariff-free, while Philippine imports would face a 19% tariff.

“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,” Trump wrote on Truth Social. “The Philippines will pay a 19% Tariff. It was a Great Honor to be with the President.”

A similar agreement was reached with Indonesia. Trump stated that “Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers.”

Indonesian products entering the U.S. will face a 19% tariff, and goods transshipped or containing third-country content will be taxed at 40%.

In a separate announcement late Tuesday, Trump said he had struck a trade pact with Japan. He reset tariffs on Japanese imports to 15%, down from a previously threatened 25%, and claimed Japan would invest $550 billion “at my direction,” with the U.S. receiving 90% of the profit. Japan also agreed to open its market to U.S. vehicles and agricultural goods.

Earlier, it was reported that U.S. President Donald Trump announced a sweeping 35% tariff on all Canadian goods imported into the United States. The measure, which exceeds prior expectations, is scheduled to take effect on August 1.