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

Alabama Agriculture Commissioner Rick Pate said he sees Pres. Trump’s efforts as a reset of global policies that have been harmful for state and federal economies. Commissioner Pate said the U.S.’s strong economic global standing is bringing other countries to the negotiating table.

The Philippines may have avoided steep trade penalties in its latest deal with the US, but analysts say Manila still failed to secure more favorable terms than regional peers despite its close ties with Washington.

Negotiations over the Philippines’ new 19% US tariff rate are “not finished”, a key government economic adviser said today, tamping down fears over the deal’s potential impact on the agriculture sector.

The Philippines has not removed tariffs on imports from the United States of corn, rice, sugar, fish, pork, and chicken, a senior economic and trade adviser to President Ferdinand Marcos Jr. said on Thursday.

Asian shares are higher, buoyed by optimism that the U.S.-Japan tariff agreement will be followed by more trade deals

Critics warn the new rate, a modest shift from the previous 20 per cent, undermines fair trade and puts Philippine industries at a competitive disadvantage

A 19-percent tariff on Philippine exports to the United States is expected to have minimal impact on economic growth, but potential trade diversion is a concern, according to the Department of Economy,