A new trade deal hailed by Philippine President Ferdinand Marcos Jnr as a “significant achievement” has been slammed by critics at home as the “worst insult” after Manila secured only a one percentage point tariff cut from Washington while granting American goods duty-free access.
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Marcos, the first Southeast Asian leader to be hosted by President Donald Trump since his return to the White House, visited the US capital from Sunday to Tuesday for a series of talks centred on trade and security.
The trip came as Manila sought to defuse tensions over Trump’s sweeping “Liberation Day” tariff policy, which had initially imposed a 17 per cent duty on Philippine exports in April before increasing it to 20 per cent earlier this month.
The outcome – a 19 per cent tariff rate on Philippine goods alongside zero tariffs for US exports – was unveiled by Trump on his Truth Social account after holding a joint press conference at the White House.
Marcos defended the result, insisting the concession was more significant than it appeared.
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“Now, one per cent might seem like a very small concession. However, when you put it in real terms, it is a significant achievement,” he said, adding that the 19 per cent figure reflected the “special relationship between the Philippines and the United States”.