Posted on 07/22/2025 2:24:51 PM PDT by SeekAndFind
President Donald Trump said Tuesday he and President Ferdinand Marcos Jr. of the Philippines have reached a trade agreement. Shortly after, he also revealed more detailed terms of an agreement with Indonesia.
Both agreements call for 19% tariffs on goods the US imports from the two countries, paid by American businesses, while American goods shipped there won’t be charged a tariff.
Trump’s announcement of the agreement with the Philippines came after he met with President Ferdinand Marcos Jr. at the White House on Tuesday.
“It was a beautiful visit, and we concluded our Trade Deal,” Trump wrote on his social media platform. However, it was not immediately apparent if the two leaders formally signed anything. Similar to other recent trade announcements, few details were initially revealed.
The agreement with the Philippines marks the fifth struck over the past three months. No new details have come to light on the agreement Trump announced with Vietnam earlier this month. Administration officials have not revealed why that’s the case.
Trump and administration officials promised dozens more trade deals in April after they paused “reciprocal” tariffs. More recently, they’ve changed their tone, stressing that Trump is focusing on the quality of deals rather than quantity.
Trump has put much of the global economy on notice, threatening a slew of higher tariffs, including rates going as high as 50% on trading partners and a 50% copper import tax across the board — set to take effect next week. He’s said he’ll stand firm on the August 1 deadline for countries to make deals or risk facing higher tariffs, yet investors have largely shrugged off that possibility.
(Excerpt) Read more at cnn.com ...
As for Indonesia…
Trump announced a similar agreement with Indonesia last week, calling for the same tariff rates. On Tuesday, more details were revealed in a joint statement published by the United States and Indonesia.
“It is my Great Honor to announce our Trade Agreement with the Republic of Indonesia, as represented by their Highly Respected President, Prabowo Subianto,” Trump wrote on Truth Social.
Trump and administration officials highlighted non-tariff trade barriers that Indonesia agreed to modify. Those include eliminating taxes on digital service revenue, like advertising on streaming and social media sites; and “pre-shipment inspection or verification requirements” on American goods, administration officials said on a call on Tuesday.
On the latter, officials told reporters these systems were especially burdensome for farmers to export their goods and that eliminating them will help open up the market to them.
The Philippines just got hit by Tycoon Wipha, didn’t it?
I hate autocorrect. Typhoon Wipha
Ah, you beat me! I have a different link, luckily. Trump (Mr. Magoo) strikes again.
<>paid by American businesses<>
CNN Fake News can’t help it.
Paid by Philippines …..according to Trump
Paid by Philippines and Indonesia …..according to Trump
Same deal structure as with Vietnam
They pay tariffs to enter our markets
We pay no tariffs to enter theirs
Correct this if wrong
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