The Indonesian government and President Donald Trump’s administration claim to have reached a deal to reduce US tariffs on the South East Asian nation from 32% to 19%. The White House announced Thursday that Indonesia will enable more than $30 billion (£22.3 billion) in purchases of American goods and remove trade restrictions on over 99% of US imports as part of the agreement.
Washington claimed to have granted tariff exclusions on a number of Indonesian products, including specific apparel and textiles made with cotton and synthetic materials imported from the United States.
The deal “breaks down trade barriers” and advances the interests of the American people, according to US Trade Representative Jamieson Greer. The deal was reached while Indonesian President Prabowo Subianto was in Washington for the first meeting of the Trump-led “Board of Peace” to discuss Gaza rehabilitation.
The concluded agreement is advantageous to both parties and would increase investment in Indonesia, according to Airlangga Hartarto, Indonesia’s coordinating minister for economic affairs. The concluded agreement is advantageous to both parties and would increase investment in Indonesia, according to Airlangga Hartarto, Indonesia’s coordinating minister for economic affairs.
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