&w=3840&q=100)
Trump slaps 19% tariffs on Philippines, Indonesia; US to face zero duties
Trump made the announcement on his social media platform Truth Social. "President Ferdinand Marcos, of the Philippines, is just leaving the White House, with all of his many Representatives. 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. In addition, we will work together Militarily [sic]," he said.
Marcos termed the deal a "significant achievement' for Manila and also said the Philippines will increase imports of soy and wheat products as well as medicines from the US, Bloomberg reported.
US-Philippines deficit
According to the US government data, in 2024, Washington had a trade deficit of $4.9 billion with Manila, with total trade at $23.5 billion.
Ahead of the meeting with the Trump administration, Marcos' government indicated that they were willing to offer zero tariffs on some US goods, reported the Associated Press. This marked a shift in the stance of the Marcos government, which previously said it could not offer a zero tariff to Washington, like Vietnam and Indonesia, claiming that it would hurt domestic businesses.
Trump signs deal with Indonesia
In a separate post on Truth Social, Trump announced a deal with Indonesia, bringing down their tariff rate from 32 per cent to 19 per cent. "It is my Great Honor to announce our Trade Agreement with the Republic of Indonesia, as represented by their Highly Respected President, Prabowo Subianto. It is agreed that Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers [sic]," he said.
He also announced that Washington will sell American-made goods to Indonesia at zero tariff rate. "In addition, Indonesia will supply the United States with their precious Critical Minerals, as well as sign BIG Deals, worth Tens of Billions of Dollars, to purchase Boeing Aircraft, American Farm products, and American Energy. This Deal is a HUGE WIN for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers", Trump noted.
The US had a trade imbalance of $17.9 billion with Indonesia, reported the Associated Press.
Trump sends out tariff letters
As the 90-day deadline ended on July 9, the Trump administration started sending out letters to trading partners, announcing to them new tariff rates, which would come into effect on August 1. He previously sent out letters to Japan and South Korea, charging both allies with 25 per cent tariffs. Soon after, he sent out letters to 12 other countries, including Indonesia, which was threatened with a 32 per cent tariff.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
27 minutes ago
- Mint
Wall Street Live: S&P 500, Nasdaq, Dow Jones edge up on US-Japan trade deal
Wall Street equity benchmarks edged higher on Wednesday after US President Donald Trump finalized a trade deal with Japan. At the open, the Dow Jones Industrial Average rose 158.7 points, or 0.36%, to 44661.12. The S&P 500 rose 17.3 points, or 0.27%, to 6326.9, while the Nasdaq Composite rose 73.8 points, or 0.35%, to 20966.467. Gold prices fell on Wednesday after the US-Japan trade deal. As of 1351 GMT, spot gold was down 0.6% at $3,412.03 per ounce. US gold futures also slipped 0.7% to $3,421.50. Among other metals, spot silver rose to nearly 14-year high, gaining 0.2% to $39.35 per ounce. Platinum fell 1.4% to $1,420.92 and palladium was down 0.4% at $1,269.60. Oil prices continued its decline on Wednesday, as investors assessed global trade development. As of 1246 GMT, Brent crude futures were down 35 cents, or 0.5%, at $68.24 a barrel. US West Texas Intermediate crude futures fell 33 cents, or 0.5%, at $64.98 per barrel.
&w=3840&q=100)
First Post
27 minutes ago
- First Post
Ghaziabad fake embassy scandal: Westarctica and the world of micronations
A 45-year-old man in Ghaziabad was pulling off a unique scam by pretending to be the 'ambassador' of Westarctica, an unrecognised micronation in Antarctica. A raid by the Uttar Pradesh Police at the house he claimed was the official embassy busted his con. The case has put the spotlight on micronations. What are they? read more A man has been arrested in Ghaziabad for running a fake embassy and conning people. News18 The Uttar Pradesh Police have busted a fake embassy in Ghaziabad. A 45-year-old man, identified as Harsh Vardhan Jain, was allegedly running a scam from a two-storey house in Kavi Nagar, claiming to be the 'ambassador' of Westarctica, an unrecognised micronation in Antarctica. According to the Noida unit of the Uttar Pradesh Police Special Task Force (STF), the man conned people using forged Ministry of External Affairs (MEA) documents and promises of international deals. STORY CONTINUES BELOW THIS AD While his embassy was not real, Westarctica is. The incident has brought micronations to the limelight. But what are these? We will explain. What are micronations? Micronations are 'wannabe' states whose representatives claim to belong to an independent nation or sovereign state. However, these political entities are neither recognised by any sovereign state nor under international law. The 'rulers' or founders of these micronations are motivated by philosophical experiment, political protest, entertainment or artistic expression, and sometimes by criminal activity. A lack of legal basis has, however, not stopped these micronations from creating their own coins, postage stamps, national anthems, flags and even passports. Dozens of micronations have emerged since the 1960s. American writer Leicester Hemingway founded New Atlantis in 1964 by constructing a bamboo raft with steel, iron piping, and rock, six miles off the coast of Jamaica. He claimed it was an island with full sovereignty. The raft was ultimately destroyed by a cyclone. There are micronations that still exist, such as the Principality of Sealand. It is an offshore platform in the North Sea used by the British military during World War II. Paddy Roy Bates, a former soldier, took up HM Fort Roughs in 1967 and later declared its independence. He later named it the Principality of Sealand, with its own flag, money, national anthem, stamps and football team. Australia has many micronations, with its first being the Principality of Hutt River founded in 1970. STORY CONTINUES BELOW THIS AD The Republic of Lamb is an island off the coast of Scotland purchased by popular spoon bender and legendary 'psychic' Uri Geller. He offers citizenship, with all proceeds going to Save a Child's Heart, an Israeli charity which treats children with heart conditions globally. In a picture taken on May 27, 2010 Emperor George II of Atlantium, a micronation, displays the 25 imperial solidi note featuring a portrait of himself (top) in Sydney. File Photo/AFP Another micronation is the Republic of Minerva, an artificial island built over disputed coral reefs between the Pacific island nations of Fiji and Tonga. The Royal Republic of Ladonia was created in 1986 by artist Lars Vilks to protest local authorities in southern Sweden's Kullaberg, who deemed the two large sculptures he built in an inaccessible nature reserve illegal. Ladonia, which is ruled by Queen Carolyn, promotes freedom of expression, art and creativity. Kailasa, the so-called country founded by self-styled godman Nithyananda, who is wanted in India for rape and abduction, is also a micronation. Nithyananda purchased an island off the coast of Ecuador, which he claims as 'Kailasa', as per BBC. STORY CONTINUES BELOW THIS AD How serious are micronations? The creators or founders of these mock nations know these entities are not 'real'. But they still have fun and sometimes use the opportunity to protest. 'They are very serious about this. Pretending to be a king or a president takes a lot of effort. I think the psychological strength you need to do this constantly when no one recognises you must be quite difficult. But generally speaking, it is for fun. A lot of them also do it as a way to build a community,' Harry Hobbs, co-author of How to Rule Your Own Country: The Weird and Wonderful World of Micronations, told Forbes in 2023. He added: 'I think the best ones are really designed for a clear political purpose. There's the famous Gay and Lesbian Kingdom of the Coral Sea Islands. They seceded from Australia to protest legislation banning same-sex marriage and formed a gay and lesbian kingdom. They sailed to an island in the Great Barrier Reef, planted a flag, and set up a country.' However, pretending to rule a sovereign state is not fun when reality hits. STORY CONTINUES BELOW THIS AD In 2002, Vilks received applications from migrants and refugees from across the globe for citizenship, believing Ladonia to be a real country. The Gay and Lesbian Kingdom of the Coral Sea Islands also got letters from queer people in other country who needed asylum. Ghaziabad man's con as 'ambassador' of many micronations The UP STF has arrested Harsh Vardhan Jain after a raid for running a fake embassy in Ghaziabad. The man converted a house in Kavi Nagar, surrounding it with high-end cars, and claimed it to be the official embassy of Westarctica. The Grand Duchy of Westarctica is a 620,000-square-mile tract of land in western Antarctica. It has its 'royal head of state' — the Grand Duke Travis, a flag, currency, and over 2,500 'citizens'. 'Jain claimed to be the consul or ambassador of Westarctica, Saborga, Poulvia, and Ladonia — none of which are recognised as sovereign nations," SSP Sushil Ghule, who led the STF raid, told the media. 'He used diplomatic insignias and paraphernalia to create an illusion of official legitimacy," he added. UP Police busts fake '#Westarctica' #embassy in Ghaziabad! A man posing as a diplomat arrested in a bizarre international scam@_anshuls brings you the ground report#Ghaziabad | @Poonam_Burde — News18 (@CNNnews18) July 23, 2025 STORY CONTINUES BELOW THIS AD Jain morphed photographs of himself with world leaders, including prime ministers and presidents, and used credentials with forged seals of the MEA. 'He used the guise of diplomacy to influence businessmen, promise them access to international markets, and run a hawala network through shell companies,' the UP police said in its statement. The fake embassy helped Jain scam people seeking foreign investment or work permits, as per the police. Jain is alleged to have pocketed large sums from private individuals and companies, promising them special diplomatic permissions or international licenses. The UP STF seized Rs 44.7 lakh in cash, foreign currency from several countries, and four high-end luxury vehicles, all bearing fake diplomatic number plates. Forged diplomatic passports and MEA seals were also recovered. With inputs from agencies
Indian Express
27 minutes ago
- Indian Express
$16 million settlement done, Trump claims new CBS owner will gift him $20 million in airtime
US President Donald Trump has claimed that the future owner of CBS will provide him with $20 million worth of advertising and programming, just days after the network announced the cancellation of The Late Show With Stephen Colbert. This follows a $16 million legal settlement Trump reached with CBS's parent company, Paramount, over what he alleged was misleading editing of a pre-election interview with former Vice President Kamala Harris during the 2024 election. While CBS had originally dismissed the lawsuit as 'completely without merit,' the settlement comes amid Paramount's $8 billion pending sale to Skydance Media, a deal that still requires regulatory approval. In a post on his Truth Social platform, Trump wrote: 'Paramount/CBS/60 Minutes have today paid $16 Million Dollars in settlement, and we also anticipate receiving $20 Million Dollars more from the new Owners, in Advertising, PSAs [public service announcements], or similar Programming, for a total of over $36 Million Dollars.' Neither CBS nor Skydance has publicly responded to Trump's claim. But, as per a report by Forbes, Paramount previously denied reports that the company could compensate Trump via advertising, telling The Washington Post it 'has no knowledge of any promises or commitments made to President Trump.' Colbert, a vocal critic of Trump, had previously called the $16 million settlement 'a big fat bribe.' While he's expected to remain on air until May 2026, Colbert warned viewers this week that 'the gloves are off.' 'I don't know if anything, anything will repair my trust in this company,' Colbert said last week on his show. 'But, just taking a stab at it, I'd say $16 million would help.' Responding to Trump's latest claim, Democratic Senator Elizabeth Warren posted on X: 'This reeks of corruption.'
