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Alongside the Japan-US agreement, the US recently struck a separate deal with the Philippines, reducing tariffs on Philippine goods from 20% to 19%. Although this is a modest change, Philippine President Ferdinand Marcos Jr. emphasized his satisfaction with the deal, viewing it as a positive step towards strengthening economic ties.
Future Outlook: A Region in Transition
The series of agreements across Asia and the Pacific signals a shifting landscape where nations are actively seeking to negotiate favorable trade terms with the United States. These deals are likely to influence regional economic stability and competitive positioning, especially as countries aim to mitigate the impact of US tariffs and create pathways for growth.