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

Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.

The Philippines faces a 19% export tariff under a new U.S. trade deal granting tariff-free access to American goods.

The U.S. leader said that Washington would apply a 19 percent tariff on Philippine imports, while Manila has agreed to remove all of its tariffs on American goods.

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,

Asian shares are higher, buoyed by optimism that the U.S.-Japan tariff agreement will be followed by more trade deals