President Donald Trump announced a new trade agreement with Philippine President Ferdinand Marcos Jr., setting a 19% tariff on Philippine exports to the US. The deal, reached during Marcos' visit to the White House, slightly reduces the previously threatened 20% tariff but still imposes significant costs on Philippine goods. In exchange, US exports to the Philippines will reportedly face zero tariffs. The agreement is being touted by both leaders as a diplomatic achievement, but critics argue it could undermine Philippine industries and strain economic relations. The talks also touched on broader security and strategic cooperation in the Indo-Pacific, with China looming as a key concern.
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