Trump Says US Nearing ‘Big’ Trade Deal With Philippines

While no specific terms were disclosed, Trump emphasized the potential scale and economic impact of the agreement.

President Donald Trump said Tuesday the U.S. is about to finalize a major trade deal agreement with the Philippines, while addressing reporters at the White House.

“We’re very close to finishing a trade deal,” Trump said, sitting alongside Philippines President Ferdinand Marcos Jr. “A big trade deal actually.”

While no specific terms were disclosed, Trump emphasized the potential scale and economic impact of the agreement. “It’s a lot of income coming in for both groups, but I was surprised to see the kind of numbers. They’re very big and they’re going to get bigger under what we’re doing and what we’re proposing,” he said.

In a tariff letter to the Philippines earlier this month, Trump stated that he plans to impose 20% tariffs on the country starting August 1, unless a trade deal is finalized. 

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