INDONESIA SAYS U.S. TRADE DEAL HAS BEEN REACHED – The deal resulted in a reduction of proposed U.S. tariff rates to 19% from 32%
Indonesia said it had reached a trade deal with the United States after an “extraordinary struggle” in negotiations, which resulted in a reduction of proposed U.S. tariff rates on Indonesian goods to 19% from 32%.
U.S. President Donald Trump said a deal had been struck after he spoke to Indonesian President Prab-owo Subi-anto. The deal is among only a handful reached so far by the Trump administration ahead of an August 1 deadline for negotiations.
“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 reporters.
Indonesia and the United States have agreed to take trade relations into a new era, Prabowo said on his instagram account, after what he described as “a very good call” on tariffs with Trump.
Indonesia – the world’s fourth-largest country and a member of G20 – ran a goods trade surplus of $17.9 billion with the United States in 2024, according to the U.S. Trade Representative.
