New Trade Agreement with the Philippines
- President Donald Trump announced a trade deal with the Philippines.
- Philippines will open markets to US goods with zero tariffs.
- Philippine exports to the US will face a 19% tariff.
- The deal includes expanded military cooperation between the US and Philippines.
- Trump praised Philippine President Ferdinand Marcos as a tough negotiator.
- Trump conveyed warm regards to the people of the Philippines.
Current Trade Negotiations Status
- Negotiations with India are stagnant ahead of the August 1 deadline.
- Issues with agricultural and dairy sectors remain unresolved.
- Trade talks with the European Union have not made significant progress.
- EU member states are planning retaliatory measures against American firms.
- Officials from the EU will meet to confirm a response strategy.
- A German official warned that if provoked, “they will get war. ”
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