The Philippines faces a 19% export tariff under a new U.S. trade deal granting tariff-free access to American goods.

The tariff rate for goods imported into the U.S. from both the Philippines and Indonesia will be 19%, the president said.

The Philippines could forgo revenues of between P3 billion and P6 billion a year due to the zero-tariff concession granted to select US goods, according to Finance Secretary Ralph Recto. Speaking to reporters on the sidelines of the 2025 post-State of the Nation Address (Sona) discussions on Tuesday,

After months of grueling negotiations by his trade team, President Marcos came back last week from his face-to-face meeting with United States President Donald Trump at the White House with a 19-percent tariff on Philippine exports to the US.

President Donald Trump announced a trade deal with the Philippines, hours after the leader of the country paid a visit to the Oval Office.

The new US import tariff on goods from Asian countries like the Philippines suggests that President Donald Trump may be taking a “relatively more moderate form” of trade protectionism—a shift that is fueling increased risk appetite among investors.

Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.

Asian shares rose Thursday, buoyed by optimism that the U.S.-Japan tariff agreement will be followed by more trade deals. Japan’s Nikkei 225 surged nearly 2% to 41,983.50. The Shanghai Composite Index added 0.