Indonesia, Trump and trade agreement
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President Trump on Tuesday offered more specifics surrounding a trade agreement the United States struck with Indonesia, which White House officials said would lower tariffs on American goods to
The newly announced 19% tariff on Indonesian goods is lower than the 32% rate it had faced under President Donald Trump’s previous “liberation day” plans.
President Trump said the agreement would partly walk back some of the steep tariffs he threatened on the country last week. Indonesia’s president called Mr. Trump a “tough negotiator.”
In exchange for moderate tariff relief, Jakarta has agreed to open its markets to American goods and remove restrictions on the exports of critical minerals to the U.S.
The U.S. and Indonesia agreed on a framework for negotiating a major trade deal, eliminating nearly all Indonesian tariffs on U.S. exports.
Indonesia gave up far more than it gained, removing 99% of its tariffs on US goods, and weakening important rules that protected its industries, the GTRI said.
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