00:00President Donald Trump announced a new trade accord with the Philippines during a White House meeting with President Ferdinand Marcos Jr., setting a 19% U.S. tariff on Philippine exports while U.S. goods will enter the Philippine market tariff-free.
00:14The deal marginally rolls back earlier threats of a 20% tariff and signals deepening security ties, including military cooperation, to counter regional challenges from China.
00:26Marcos attended to negotiate relief from a planned 20% tariff set for August 1st, reflecting the Philippines' push for a more balanced economic relationship under the U.S. tariff regime.
00:40Alongside economic terms, both leaders emphasized strategic military collaboration, bolstering security cooperation amid heightened tensions in the South China Sea.
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