US President Donald Trump has announced a new 19% tariff on goods imported from the Philippines, following a meeting with Philippine President Ferdinand Marcos Jr. at the White House.

In a social media post, Trump said the tariff is part of a broader agreement that includes the Philippines lifting duties on US goods and strengthening military cooperation between the two countries.

“It was a beautiful visit, and we concluded our Trade Deal,” Trump wrote, without disclosing further details.

The Philippine government has yet to officially confirm the agreement. The newly imposed 19% tax exceeds the 17% rate Trump had previously threatened and is higher than the 20% mentioned in his recent letter to Philippine leaders.

The US has imposed a series of tariffs on global imports since April, with Trump arguing they are necessary to counter unfair trade practices. While Trump has announced trade deals with several countries — including China, the UK, and Indonesia — many of these maintain high tariffs and lack full confirmation from all parties involved.

Trump’s aggressive trade strategy continues to unsettle global markets. Countries like the EU and Canada are still negotiating their own terms, with Canadian Prime Minister Mark Carney stating his government will not accept “a bad agreement.”

Since the tariff campaign began, US companies have reported significant financial strain. General Motors revealed a $1 billion cost over three months due to tariffs, while Stellantis (Jeep’s parent company) reported €300 million in losses.

The Philippines, though a smaller US trade partner, exported around $14.2 billion worth of goods to America last year — including auto parts, electronic equipment, textiles, and coconut oil.

As the 1 August deadline for broader tariffs approaches, uncertainty looms over global trade dynamics.