US President Donald Trump said on Tuesday that he had reached a trade agreement with Indonesia, just a week after threatening to slap the Southeast Asian nation with steep tariffs. However, the President did not provide any details of the scope or conditions of the agreement.
“Great, for all, just made with Indonesia,” Trump published on his truth social platform. “Details to be watched !!!”
The announcement comes when Trump faces a growing control in his aggressive business agenda that included tariffs for more than 20 countries. The administration has so far completed agreements with Britain, Vietnam and a partial tariff with China, but the pressure deploys the promises of a wider dealing of trade.
The tariff threats are being built
Last week, Trump warned that 32% of the Indonesian goods tariff would come into force on August 1, as part of its wider pressure on what it calls “reciprocal trade”. The endangered tariff remained unchanged from what Trump first proposed in April when he ordered a 10% tariff on most of the US business partners and outlined plans to further increase his obligations.
The White House has twice delayed the term for the higher Indonesian tariffs-only from 1 July to 9 July and then to 1 August. The delay caused speculation that the behind -the -scenes negotiations were taking place.
Indonesia reacts carefully
Dino Patti Djalal, a former Indonesian Minister of Foreign Affairs, said on Tuesday on Tuesday that the details of the agreement remained unclear. He noted, however, that “initiates from the Indonesian government said they were satisfied with the new agreement,” he added that further information can soon be expected.
The nature of concessions or modifications that led to the agreement is not yet known. It is also not clear whether the 32% tariff will be dropped or modified.
Global consequences
Indonesia joined the growing list of countries that have recently received formal letters from Trump’s administration, which indicates the expected increase in customs tariffs. The recipients include the European Union, Japan, South Korea, Malaysia, Canada and Mexico. Although Canada and Mexico were not originally focused, they were later issued a similar announcement-any trade protection within the USMCA (the agreement on the US-Mexiko-Kanada agreement) is likely to remain unaffected for certain goods.
(Tagstotranslate) President Donald Trump
