Philippines Set to Receive 20 Percent Tariff in August, President Marcos Heads to the US for Talks on Economic and Security Cooperation

The Philippines is set to receive a tariff of 20 percent on August 1, according to an official letter addressed to Philippine President Ferdinand Marcos Jr. from US President Donald Trump. The letter is part of a series of messages sent to leaders of 14 different countries, each relaying a new set of higher tariffs due to “imbalances” in trade with the US. Aside from the higher tariffs, President Trump also announced a 50 percent tariff for copper to take effect on August 1.

Read the full assessment here.