US and Indonesia reach trade deal
AP News • • nation
Key Points:
- The U.S. and Indonesia have reached a reciprocal trade agreement in which Indonesia will eliminate tariffs on 99% of American goods, while the U.S. will maintain a 19% tariff on most Indonesian goods, similar to rates for Cambodia and Malaysia.
- Indonesia agreed to address non-tariff barriers to U.S. goods and remove export restrictions on critical minerals and industrial commodities, with both countries aiming to strengthen economic security and promote growth.
- Indonesian and U.S. companies signed deals worth $38.4 billion, including purchases of soybeans, corn, cotton, wheat, and cooperation in critical minerals, oil recovery, and computer chip ventures.
- Indonesian President Prabowo Subianto pledged to send 8,000 troops or
