Trump announces 19 percent tariff on Indonesia
Summary
The United States and Indonesia have reached a trade agreement, which involves Indonesia making significant purchases from the U.S. in order to avoid higher tariffs on its goods. US President Donald Trump announced a 19% tariff on Indonesian goods and detailed Indonesia's commitments to buy U.S. energy, agricultural products, and Boeing airplanes.Key Facts
- The United States and Indonesia negotiated a trade deal to avoid higher U.S. tariffs.
- A 19% tariff will be applied to Indonesian goods entering the U.S.
- Indonesia agreed to purchase $15 billion in U.S. energy and $4.5 billion in American agricultural products.
- Indonesia also committed to buying 50 Boeing jets, many of which are 777 models.
- Trump had previously threatened a 32% tariff on Indonesian goods, effective August 1.
- The timeline for implementing the new tariff rate or for Indonesia's purchases was not specified.
- Other trade agreements with countries like Britain, Vietnam, and China have been announced, with talks ongoing with the European Union and India.
- Trump postponed higher tariffs on trading partners multiple times, sending update letters to over 20 countries.
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