Indonesia, Trade Agreement
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The Manila Times on MSNIndonesia, US reach deal; tariffs cut to 19% from 35%Indonesia on Wednesday said that it had reached a trade deal with the United States after an “extraordinary struggle” in negotiations that resulted in a reduction of proposed US tariff rates on the Southeast Asian country’s exports to 19 percent from 32 percent.
Trade Minister Budi Santoso stated that Indonesia faces the lowest United States (US) import tariff among Southeast Asian (ASEAN) countries. “In
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Khaleej Times on MSNIndonesia hails 'new era' with US after Trump trade pactIndonesia's president on Wednesday hailed a "new era" of trade relations with the United States, after Donald Trump said he would slash tariffs faced by Southeast Asia's biggest economy from 32 per cent to 19 per cent.
While Indonesia’s exports to the US will face a lower 19 per cent tariff, its farming sector could be adversely affected, analysts say.
Indonesia’s recent agreements with the Western superpower and the European bloc could set the path for other nations seeking similar arrangements. But experts warn against potential pitfalls and sacrificing domestic interests.