US, Indonesia Finalize Trade Deal

(MENAFN) On Tuesday, US President Donald Trump revealed the completion of a "framework" trade arrangement with Indonesia, which he claimed would abolish 99% of duties currently levied on American goods sold to the Southeast Asian country.

In a message posted on social media, Trump declared: "It is agreed that Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers.

The United States of America will now sell American Made products to Indonesia at a Tariff Rate of ZERO, while Indonesia will pay 19% on all of their products coming into the U.S.A."

He continued by saying, "In addition, Indonesia will supply the United States with their precious Critical Minerals, as well as sign BIG Deals, worth Tens of Billions of Dollars, to purchase Boeing Aircraft, American Farm products, and American Energy.

This Deal is a HUGE WIN for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers."

Earlier that same day, a top official from the Trump administration characterized the accord as a "framework" agreement, emphasizing that it "shows exactly how the President is resetting the terms of trade to ensure that we can reduce our deficit, both by regulating imports and also expanding exports."

In a public statement, the White House explained that, in addition to removing nearly all tariffs on American exports to Indonesia, the arrangement also aims to tackle "a range of non-tariff barriers" affecting US agricultural and industrial exports.

This includes relaxing certain domestic content rules, adjusting licensing systems, and implementing other reforms to promote trade flow.

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