Trump Announces Trade Deals with Philippines & Indonesia
President Trump made two trade deal announcements today while I was putting together Universal Cargo’s blog post: a deal with the Philippines and another with Indonesia.
Here’s the president’s Truth Social announcement of the trade deal with the Philippines:
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. It was a Great Honor to be with the President. He is Highly Respected in his Country, as he should be. He is also a very good, and tough, negotiator. We extend our warmest regards to the wonderful people of The Philippines!
So the new tariff rates between the U.S. and the Philippines will be as follows:
- 19% tariff on U.S. imports from the Philippines
- No tariff on U.S. exports to the Philippines
Now let’s see the Truth Social announcement President Trump made announcing a trade deal with Indonesia:
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. The United States of America will now sell American Made products to Indonesia at a Tariff Rate of ZERO, while Indonesia will pay 19% on all of their products coming into the U.S.A. — The Best Market in the World! 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. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!
So the new tariff rates between the U.S. and Indonesia will be as follows:
- 19% tariff on U.S. imports from Indonesia
- No tariff on U.S. exports to Indonesia
This was just a quick update for you shippers who read our blog. We’ll be sure to talk more about these deals and others in upcoming posts.
