US President Donald Trump on Wednesday issued a new round of letters notifying countries, including the Philippines, of higher tariff rates as he continues his “America First” policies and reorders global trade, a report from Reuters on July 9 said.
The letter to the President Ferdinand Marcos Jr. dated July 9 calls for a tariff of 20 percent on the Philippines, compared to 17 percent set on April 2. Trump later suspended all but 10 percent of the April 2 rates until July 9 to allow more time for negotiation. That deadline has now slipped to August 1.
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