WASHINGTON: Indonesia has agreed to eliminate tariffs on more than 99 per cent of US goods and scrap all non-tariff barriers facing American firms, while the US will drop threatened tariffs on Indonesian products to 19 per cent from 32 per cent, the two countries said on Tuesday (Jul 22).
Trump hailed the deal, which he first announced on July 15, in a posting on his Truth Social media platform, calling it a “huge win for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers”.
Details of a framework for the accord were released in a joint statement by both countries, and a fact sheet issued by the White House. They said negotiators for both countries would finalise the actual agreement in coming weeks.
“Today, the United States of America and the Republic of Indonesia agreed to a framework for negotiating an agreement on reciprocal trade to strengthen our bilateral economic relationship, which will provide both countries’ exporters unprecedented access to each other’s markets,” the statement said.
The Indonesia deal is among only a handful reached so far by the Trump administration ahead of an Aug 1 deadline when higher tariffs are due to kick in.
