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U.S. Nears Major Trade Deal with Philippines Amid Tariff Tensions
U.S. Nears Major Trade Deal with Philippines Amid Tariff Tensions
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BTCCSquare news:
President TRUMP announced the U.S. is close to finalizing a significant trade agreement with the Philippines, following a high-stakes meeting with Filipino leader Marcos. The discussions aimed to avert new U.S. tariffs set to take effect by August 1, with Trump noting the potential for an agreement but acknowledging Marcos' tough negotiation stance. The talks also touched on military cooperation, with Trump emphasizing the Philippines' strategic importance.
Marcos has diverged from his predecessor's China-friendly approach, strengthening military ties with the U.S. through expanded base access, joint drills, and missile system deployments. This shift comes as tensions between China and the Philippines escalate in the South China Sea.
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