Trump called new trade deal with Indonesia ‘a huge win’ for American industries and workers.
The United States has reached trade agreements with Indonesia and the Philippines, President Donald Trump announced on social media.
With the Aug. 1 deadline approaching, the administration is reaching new deals.
First, following through on last week’s announcement, Trump confirmed the details of the U.S.–Indonesia trade agreement.
Terms of the deal would see Indonesia lower tariffs to 0 percent on 99 percent of U.S. exports and eliminate non-tariff barriers, the president said in a July 22 Truth Social post.
Indonesian products entering the United States would be subject to a reciprocal tariff rate of 19 percent, down from the previously announced blanket rate of 32 percent.
Indonesia will also supply the United States with precious critical minerals and purchase Boeing aircraft, U.S. farm products, and U.S. energy.
“This deal is a huge win for our automakers, tech companies, workers, farmers, ranchers, and manufacturers,” Trump said.
The announcement came hours after Trump and the Philippines struck a trade and military deal during a meeting between Trump and Filipino President Ferdinand Marcos Jr. at the White House.
This is a developing story and will be updated.
By Bill Pan
