President Donald Trump said the US reached an agreement with the Philippines setting a 19% tariff on the Southeast Asian country’s exports, a deal Philippine businesses say may push them to look at other markets.

U.S. President Donald Trump announced a new 19% tariff rate for goods from the Philippines on Tuesday after what he called a "beautiful visit" by Philippine President Ferdinand Marcos Jr. to the White House,

The tariff rate for goods imported into the U.S. from both the Philippines and Indonesia will be 19%, the president said.