Bernama

ISTANBUL: US President Donald Trump announced a new trade agreement with the Philippines following a meeting Tuesday with President Ferdinand Marcos at the White House, Anadolu Ajansi (AA) reported.

"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 per cent Tariff," Trump wrote on Truth Social.

The US had announced a 20 per cent tariff on Philippine exports, which was set to take effect Aug 1.

The two nations also agreed to continue military cooperation, said Trump.

The Philippines, a long-standing military ally of the US in the Asia-Pacific region, hosts American soldiers and provides access to its military bases. The two countries have maintained a mutual defence treaty since 1951.