The new tariff rates threatened in the letters Trump shared Wednesday are similar to those he announced on what the White House dubbed “Liberation Day” in early April.

The Philippines is concerned about the United States' decision to impose 20% tariffs on Philippine exports but will continue to negotiate, its economic affairs minister said on Thursday.

In a letter to President Ferdinand Marcos Jr. shared on Trump's Truth Social account, the US president said the Philippines would be hit with a “tariff of only 20%."

THE PHILIPPINE government is hopeful that it can still negotiate for a lower US tariff rate ahead of the Aug. 1 deadline as President Ferdinand R. Marcos, Jr. heads to the US next week.

The global tariffs announced by US President Donald Trump in April triggered “strong” investor interest in the Philippines, which was threatened with a lower levy than most neighbors, a top trade official said.

India could pose stiff competition to Sri Lanka and the Philippines for nearly a fifth of their exports to the United States as both countries are facing high import duties under new US trade arrangement,

Countries like the Philippines and Singapore could benefit from tariff concessions if negotiations with the Trump administration progress favorably, according to Dutch financial giant ING Bank, which flagged the building pressure on Asian economies facing higher-than-expected post-Liberation Day tariffs.

President Trump sends tariff letters to seven smaller trading partners, signalling ongoing trade strategies and potential economic implications.