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.

Welcome to the Daily News Brief, CFR’s flagship morning newsletter summarizing the top global news and analysis of the day. Subscribe to the Daily News Brief to receive it every weekday morning.Top

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,

President Ferdinand Marcos secures a one-percent US tariff cut and defence pledges from US President Donald Trump, but analysts say the deal highlights Manila’s limited leverage and need to diversify.

As the August 1st tariff deadline approaches, President Trump said on social media that the U.S. and the Philippines have reached a trade deal. It comes as the impact of tariffs already in place are becoming more clear as automakers report quarterly earnings.