President Trump reveals trade deal with the Philippines after Oval Office meeting with President Ferdinand Marcos Jr., including zero tariffs for the U.S.

President Donald Trump said he has reached a trade agreement with Philippine leader Ferdinand Marcos Jr. after a meeting Tuesday at the White House that will see the U.S. slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there.

U.S. and Chinese officials will meet in Stockholm next week to discuss an extension to the deadline for negotiating a trade deal, U.S. Treasury Secretary Scott Bessent said on Tuesday as President Donald Trump announced a deal with the Philippines and released terms of a previous deal with Indonesia.

President Ferdinand R. Marcos Jr. arrived in Washington, D.C. early Monday (Manila time) for a three-day official visit aimed at deepening the Philippines’ strategic partnership with the United States,

BANGKOK — U.S. President Donald Trump has announced trade deals with Japan and a handful of other Asian countries that will relieve some pressure on companies and consumers from sharply higher tariffs on their exports to the United States.