Trump announces trade deal with ‘tough' Philippine president Marcos
President Donald Trump greets Philippine President Ferdinand Marcos Jr. at the White House, Tuesday, July 22, 2025, in Washington.
AP
'It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs. The Philippines will pay a 19% Tariff,' Trump, 79, wrote on Truth Social.
'In addition, we will work together Militarily.'
The US has struck economic agreements with only a handful of countries so far — including with the UK and China — but the administration is hoping to announce dozens more before an Aug. 1 deadline.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
16 minutes ago
- Yahoo
Trump claims he's made a ‘massive' trade deal with Japan
President Donald Trump boasted Tuesday that he had made a 'massive' deal with Japan that would generate 'thousands of jobs' and billions of dollars for the U.S. The president announced the trade framework – 'perhaps the largest Deal ever made' – in a Truth Social post Tuesday, revealing that a 15 percent tax on goods imported from Japan had been agreed. In the post Trump said Japan would invest 'at my direction' $550 billion into the U.S. and would 'open' its economy to American-made vehicles as well as 'rice' and 'other things.' But further details remained scant. The 15 percent tax on imported Japanese goods is a significant drop from the 25 percent rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting on August 1. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' the president posted on Truth Social, adding that the United States 'will continue to always have a great relationship with the Country of Japan.' 'This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan. Thank you for your attention to this matter!' Early Wednesday in Tokyo, Japanese Prime Minister Shigera Ishiba confirmed the new trade agreement, saying it would benefit both sides and help them work together. 'The government was determined to protect national interests,' Ishiba told reporters, per the Wall Street Journal. Trump's announcement appeared to excite investors, with the benchmark Nikkei – the Tokyo stock market – climbing 2.6 percent to its highest in a year, with shares of automakers also surging. Toyota grew by more than 11 percent, with Honda and Nissan both up more than 8 percent. But American automakers were less buoyed with the deal, with concerns raised over low import levies from Japan, compared to tariffs on imports from Canada and Mexico remaining at 25 percent. Matt Blunt, head of the American Automotive Policy Council, said, "Any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American-built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers.' Sign in to access your portfolio
Yahoo
16 minutes ago
- Yahoo
These are the 3 manufacturing sectors set to be the big winners of Trump's Made in America push
Trump wants to increase manufacturing in the United States. His economic agenda has centered on measures meant to compel companies to build on US soil. These three industries are the likely big winners of the Made In America push, Oxford Economics says. President Donald Trump wants more stuff to be made in America. Upon taking office in January, he implemented tariffs against prominent US trade partners in an effort to bring more manufacturing back to American shores, brushing off warnings of potential pain for companies and consumers. But some industries are likely to see a boost in US manufacturing over others, Oxford Economics said on Tuesday. The firm is predicting that high-tech goods, pharmaceuticals, and aerospace technology will have an advantage. Nico Palesch, a senior economist at the forecasting firm, said these industries are well-positioned to benefit from Trump's policies because they already have a foothold in the US market. "A sector that has significant domestic capacity in the US is much more likely to be able to expand capacity and accrue benefits from changes in tariffs or reductions in taxation because the business case for operating in the US is already strong, as opposed to a sector that would essentially need to be built from the ground up," he stated. Despite high economic uncertainty, Palesch added that Trump's policies are likely to help spur growth for US manufacturing. He also credited the CHIPS and Inflation Reduction Acts of 2022 with helping revitalize US manufacturing in areas such as semiconductors and green technology production. In his view, they will be responsible "for a majority of reindustrialization" in the coming years. Palesch highlighted the advantage that companies with a strong US presence will have, noting that he did not believe Trump's policies would bring back an abundance of manufacturing jobs to the US. "A car maker in the US is more likely to decide to expand an existing production line or set up a new factory to try and capture more market share at the expense of tariffed competition than a firm operating in a sector that has little or no presence in the US," he added. The economist said he sees Boeing as a top pick among aerospace stocks, adding that while the company has experienced some negative publicity of late, "it remains one of the two major international aerospace manufacturers capable of producing the types of aircraft typically used in air travel at scale." Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fox News
18 minutes ago
- Fox News
Trump border czar Tom Homan slams 'former first drug addict' Hunter Biden over inflammatory immigration rant
Trump border czar Tom Homan fired back Tuesday night at Hunter Biden for a recent profanity-laced rant against President Donald Trump's policies on illegal immigration. "I don't really care what the former first drug addict thinks," Homan told Laura Ingraham on "The Ingraham Angle." "I just thank God every morning I wake up we got President Trump in the Oval Office. And because of President Trump, in seven weeks we got the most secure border in this nation's history. "And now we're arresting public safety threats and national security threats every day across this country," he continued. "We've already arrested three times the number of criminals that Biden did in the same timeframe." Biden recently sat down with "Channel 5" podcaster Andrew Callaghan for a wide-ranging discussion of his father's presidency, his drug use and other topics. During the interview, he slammed Trump as a "f------ thug" and compared his deportation agenda to Nazi Germany. "There is a minority group that those in power, that came into power through democratically elected means, are going to target this minority group because they're stealing all the jobs," Biden said. "And what we're going to do is we're going to send masked men to this marginalized group, and we are going to take them, put them on planes, put them on buses, put them on trains, and send them to a prison camp in a foreign country," he continued. "What am I describing right then? Am I describing Germany? Or am I just describing the United States right now? Because I will tell you what. You think that the prison in El Salvador is not a f---ing concentration camp, you're out of your f---ing mind." Biden infamously revealed to "CBS Sunday Morning" in 2021, that he would smoke "anything that even remotely resembled crack cocaine," including "more Parmesan cheese than anyone you know." Salvadoran President Nayib Bukele also responded to Biden via a post on X, also referring to Biden's history of drug use. "Is Hunter Biden sniffing powdered milk?" Bukele asked, adding a clip from the interview.
