EU and Philippines Reach Initial Free Trade Deal

The European Union and the Philippines have reached an initial free trade agreement to expand commerce and offset US tariffs. The deal eliminates over ninety-four percent of tariffs on both sides, paving the way for a full agreement in the coming months.

Insights:
A drone view shows cranes and stacks of containers at the Manila International Container Terminal at the Port of Manila in Manila, Philippines, August 11, 2025. REUTERS/Eloisa Lopez

The European Union and the Philippines reached an initial free trade agreement on Tuesday morning, eliminating over 94% of tariffs on both sides.

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