Tariff Deals Locked In—Japan, Indonesia, Philippines Sign On
Trump Announces Trade Deal With Japan Ahead of Tariff Deadline President Trump has finalized a sweeping trade agreement with Japan, set to take effect August 1—a key move ahead of the looming tariff deadline. The deal imposes a 15% tariff on Japanese imports—down from the 25% rate previously threatened—and opens Japan’s markets to U.S. vehicles, rice, and other agricultural goods. Japan has also pledged what Trump called a $550 billion investment in the U.S., with 90% of profits expected to remain domestic.
However, official memos note that these announcements remain broad and subject to change—and critically, there appears to be no exception for goods in transit before August 1. As additional deals with Indonesia and the Philippines take shape and the August 12 China deadline nears, we’re keeping a close eye on implementation details to help you ship smart.
Philippines and Indonesia Finalize Trade Deals—19% Tariffs Locked In Two more trade agreements were announced this week—this time with the Philippines and Indonesia—bringing the total to five deals struck in the past three months. Both nations agreed to a 19% tariff on goods entering the U.S., while American exports to them will face zero tariffs.
President Trump called the meeting with Philippine President Ferdinand Marcos Jr. a “beautiful visit,” adding: “The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs.” Trump also hinted at deeper military ties alongside the economic deal.
For Indonesia, the deal goes beyond tariffs. The country agreed to eliminate pre-shipment inspections, drop taxes on digital services, and lift export restrictions on critical minerals. Trump called it a “Great Honor” to strike the agreement with Indonesia’s “Highly Respected President,” and officials noted it will ease access for U.S. farmers and automakers.
With the August 1 deadline days away, the pressure is on for other countries to follow suit—or face steeper rates.
Tariff Fallout Already Hitting U.S. Companies General Motors reported a 35% drop in second-quarter profit, with a $1.1B tariff hit weighing heavily on results. The automaker now expects $4–5B in tariff-related costs this year and is investing $4B in U.S. manufacturing to reduce exposure. While earnings still beat Wall Street estimates, the impact was clear—and GM is likely just the first of many. With August 1 around the corner, importers should brace for rising costs—and wider industry ripple effects.
