We show you our most important and recent visitors news details Striking trade deal with US was an ‘extraordinary struggle,’ Indonesia says in the following article
Hind Al Soulia - Riyadh - WASHINGTON — President Donald Trump said Tuesday the United States has reached a trade agreement with Indonesia, after negotiations Jakarta described as an “extraordinary struggle.”
The deal will see the US impose a 19% tariff on Indonesia’s exports, a reduction from the 32% Trump had initially threatened to impose on the country.
After first announcing the agreement on Truth Social, Trump told reporters that it calls for Indonesia to not charge any tariffs on American exports. Trump also said Indonesia committed to buying “$15 Billion in US Energy, $4.5 Billion in American Agricultural Products, and 50 Boeing Jets, mny of them 777’s.”
On Wednesday afternoon, Indonesia’s government confirmed the deal, saying President Prabowo Subianto had negotiated it directly with Trump over the phone.
“This is an extraordinary struggle by our negotiating team led by the Coordinating Minister for Economic Affairs,” Hasan Nasbi, the Indonesian president’s spokesperson, told Reuters.
Prabowo was expected to reveal more detail later on Wednesday. In a post on Instagram the Indonesian president wrote the two sides “agreed and concluded to take trade relations between Indonesia and the United States into a new era of mutual benefit between our two great nations.”
Before departing the White House to speak at a summit in Pittsburgh, Trump said Indonesia is “known for high-quality copper, which we’ll be using.” That may mean that copper from the country could face lower tariffs, or no tariffs, if Trump proceeds with his threat to levy a 50% tax across all copper imports on August 1.
While Indonesia shipped $20 million worth of copper to the US last year, according to US Commerce Department data, that’s far behind top suppliers Chile and Canada, which sent $6 billion and $4 billion worth of the metal to the US last year.
“No tariffs there; they pay tariffs here. Switching the asymmetry our way,” US Commerce Secretary Howard Lutnick said in a CNBC interview on Tuesday.
Trump said India is “working along the same line” with regard to securing a trade agreement.
In April, Trump briefly imposed a 32% tariff on goods from the country before pausing so-called “reciprocal” tariffs. Countries that were due to face those tariffs have been charged a minimum 10% tariff for the past three months. That’s due to end on August 1.
“Great deal, for everybody, just made with Indonesia. I dealt directly with with their highly respected President,” Trump wrote on his social media platform Tuesday morning. “DETAILS TO FOLLOW!!!”
This marks Trump’s fourth trade agreement announcement in three months. He had previously promised dozens of deals with US trading partners over that time frame, but that has proven tough to reach.
One of the four agreements he previously announced was with Vietnam earlier this month, similarly posting on Truth Social. But the administration has yet to announce any more information on that agreement.
Trump’s volatile trade policy has paralyzed many businesses. Some fear that new orders they place for products manufactured overseas could be tariffed at dramatically higher rates given Trump can — at the flick of a switch — change rates charged on a country’s exports.
Trump has said companies can avoid such headaches by moving production to the United States. But it’s not so simple in practice: Businesses may not only encounter difficulty finding the right workers, but it could take years — and many millions of dollars — before manufacturing facilities are up and running. Then, once production is moved to the US, costs could increase, leading to higher prices for American consumers.
Representatives from the Indonesian government did not immediately respond to CNN’s request for comment.
Indonesia is America’s 23rd top trading partner, US Commerce Department data from last year shows. The United States imported $28 billion worth of merchandise from there last year. Apparel and footwear were the top two goods Americans bought.
Meanwhile, the US exported $10 billion worth of goods there last year. Oilseeds and grain as well as oil and gas were the top two exports. — CNN
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