President Donald Trump said Tuesday he and President Ferdinand Marcos Jr. of the Philippines have reached a trade agreement. Shortly after, he also revealed more detailed terms of an agreement with Indonesia.

The Philippines has agreed to a trade deal with the United States that will lower U.S. tariffs on its exports to 19 percent, President Trump announced Tuesday following a meeting with the Philippine president,

Philippine President Ferdinand Marcos Jr. will meet U.S. President Donald Trump this week, hoping Manila's status as a key Asian ally will secure a more favorable trade deal before an August 1 deadline.

The new US import tariff on goods from Asian countries like the Philippines suggests that President Donald Trump may be taking a “relatively more moderate form” of trade protectionism—a shift that is fueling increased risk appetite among investors.

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

Asian shares rose Thursday, buoyed by optimism that the U.S.-Japan tariff agreement will be followed by more trade deals. Japan’s Nikkei 225 surged nearly 2% to 41,983.50. The Shanghai Composite Index added 0.

After President Trump unveiled trade deals Tuesday with Japan and the Philippines, and his administration fleshed out details of a [pact with Indonesia](

Philippine President Ferdinand R. Marcos Jr. will be at the White House Tuesday to meet with President Donald Trump as his visit to the United States continues.