Trump Announces Trade Deals with Japan & Philippines

Former President Trump has recently announced new trade agreements with Japan and the Philippines, outlining potential shifts in international commerce.

Trade Deal with Japan

Trump announced a significant trade agreement with Japan, describing it as potentially “the largest Deal ever made.”

According to Trump's post on Truth Social, the deal involves:

• $550 billion investment by Japan in the US.
• 15% tariffs on imports from Japan.
• Japan opening its markets to American automobiles and agricultural products.

Specific details of the agreement are still emerging, following Trump's pattern of announcing frameworks before finalizing terms.

Trade Agreement with the Philippines

Following a meeting with Philippine President Ferdinand Marcos Jr., Trump also announced a trade agreement with the Philippines.

Key points of this agreement include:

• U.S. tariffs on Philippine goods set at 19%, reduced from a previously threatened 20%.
• The Philippines maintaining open markets with zero tariffs on U.S. imports.

This agreement marks Trump’s fourth such deal, following agreements with the UK, Vietnam, and Indonesia.

Marcos emphasized the importance of this relationship amid tensions in the South China Sea, although specific economic impacts are still unclear.

This is a developing story.