The agreement has not yet been confirmed by Indonesian authorities.
Earlier on Tuesday, U.S. President Donald Trump announced that the country had reached a trade deal with Indonesia. Under the agreement, the populous Asian nation will accept a 19% tariff on its exports to the U.S.
“They pay 19%, and we pay nothing,” Trump told reporters at the White House on Tuesday, according to Bloomberg News.
“We will get full access to Indonesia.”
The president also stated that if other countries attempt to avoid higher tariffs by routing goods through Indonesia, the original country’s tariffs would simply be added on top of the 19%.
The trade deal also includes Indonesia’s commitment to purchase $15 billion worth of U.S. energy products and $4.5 billion in agricultural goods, as well as an order for 50 Boeing aircraft.
Indonesia had been threatened with a 32% tariff on “Liberation Day” in early April.
.\˙ MarketWire
