In a statement on July 15 (local time), President Donald Trump confirmed that the United States and Indonesia had reached a "great" trade agreement. The White House chief did not elaborate on the details of the agreement but stated that further details would be provided in due course.
The above information was released before August 1st, which is also the deadline for other countries to reach an agreement with the US if they want to avoid a scenario where goods entering the US market are subject to high tariffs. The previous deadline was July 9th, but the White House extended it to give the parties more time to negotiate.
US Commerce Secretary Howard Lutnick revealed that US goods exported to Indonesia will not be subject to tariffs. Conversely, the US will impose tariffs on goods imported from the Southeast Asian nation.
Susiwijono Moegialso, a senior official at Indonesia's Ministry of Economic Coordination, said the country is preparing a joint statement with the US addressing the scope of reciprocal tariffs, including agreements on tariffs, non-tariff barriers, and trade.
In April, Peter Navarro, President Donald Trump's trade advisor, stated that the US would strive to sign "90 trade deals in 90 days." However, this goal was deemed unfeasible. In fact, two weeks before the deadline, the US had only reached agreements with the UK, Vietnam, China, and Indonesia.
Total trade between Indonesia and the United States in 2024 reached nearly $40 billion. US exports to Indonesia increased by 3.7% that year, while imports from the Southeast Asian nation increased by 4.8%, resulting in a merchandise trade deficit of nearly $18 billion between the two countries.
According to data from the International Trade Centre (ITC), the top US imports from Indonesia in 2024 included palm oil, electronics, footwear, tires, natural rubber, and frozen shrimp.
The breakthrough with Indonesia comes amid plans by the European Commission to impose tariffs on €72 billion (US$84.1 billion) worth of US goods if trade talks with Washington fail.
President Donald Trump is threatening to impose a 30% tariff on imports from the European Union (EU) on August 1st. European officials consider this tariff unacceptable and believe it could disrupt trade between the world's two largest markets.
(According to Anadolu, CNA, Xinhua News Agency)
Source: https://hanoimoi.vn/my-dat-thoa-thuan-thuong-mai-with-indonesia-709202.html
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