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President Donald Trump said the US reached an agreement with the Philippines setting a 19% tariff on the country’s exports, the latest pact ahead of an Aug. 1 deadline.

Trump initially imposed a 17% rate for the US ally in April, which was paused to allow time for negotiations. He then threatened earlier this month to raise the charge to 20%.

Trump announced the deal on social media Tuesday after meeting with Philippines President Ferdinand Marcos Jr. The minor reduction underscored the difficulty foreign leaders are facing as they attempt to convince the US president to grant relief from his country-based tariffs.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe speaks with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Former Deputy National Security Adviser for Cyber and Emerging Technology in the Biden Administration Anne Neuberger.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• International Capital Strategies Founder and Managing Partner Doug Rediker.

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