This Brief offers a summary of what is known, as of July 28, 2025, about the so-called “tariff war” initiated by the United States in 2025. The figures shown may need to be updated as new information arrives and trade deals with the United States are reached.
President Donald Trump announced on July 23, 2025 the results of his negotiations with President Ferdinand Marcos Jr. on the tariff rate to be imposed on Philippine imports: the standard tariff rate will be 19%, starting on August 1, 2025. This represents a 2 percentage-point increase over the 17% tariff rate (threat) announced on April 2, and a 1 percentage-point decrease over the tariff rate (also a threat) announced on April 7. On paper, this is a significant increase over the current tariff rate that Philippine products face when they reach the United States.