

Following in Vietnam's footsteps, Indonesia − Southeast Asia's largest economy – has agreed to have its exports to the US subjected to a 19% tariff, while American products will be imported duty-free into Indonesia. At least, that is the message Donald Trump posted on his Truth Social network on Wednesday, July 16: The US president boasted of a "landmark [deal]" and that for the first time, "Ranchers, Farmers and Fishermen will have Complete and Total Access to the Indonesian Market of over 280 million people." In addition, Indonesia has reportedly committed to "purchasing $15 Billion Dollars in US Energy, $4.5 Billion Dollars in American Agricultural Products and 50 Boeing Jets, many of them [777s],"Trump added.
Like other countries in Southeast and Northeast Asia, Indonesia received a warning letter from the US president on July 7, notifying that, starting August 1, the country would be subject to 32% tariffs: "If for any reason you decide to raise your tariffs [on American products], then, whatever the number you choose to raise them by, will be added to the 32% that we charge." Thailand faces tariffs of 36%, while Japan, South Korea and Malaysia are looking at 25%; all are currently trying to negotiate more reasonable agreements.
You have 75.75% of this article left to read. The rest is for subscribers only.