According to US President Donald Trump, he has reached a new tariff agreement, this time with Indonesia. Trump said that in exchange for what he called “full access” for American businesses, he had agreed to reduce the tariffs he had threatened on products coming into the US from Indonesia to 19%.
The southeast Asian nation, which has a modest but expanding trading connection with the United States, would not immediately confirm the terms of the agreement. According to Reuters, a top Indonesian government official stated on Wednesday that a statement will be released shortly.
Following the White House’s announcement of a slew of tariffs this spring, which sparked a frenzy of trade negotiations over the penalties, the agreement is the most recent to be announced. Trump reaffirmed his warnings this month, issuing warning letters to dozens of nations stating that he intended to begin imposing heavy tariffs on August 1st, although he had suspended his most harsh tariff proposals from earlier this year.
All of the United States’ largest trading partners, including the European Union, Canada, Mexico, Japan, and South Korea, were among his targets. Trump allegedly confused officials who believed a deal was imminent when he sent Indonesia a letter last week detailing intentions for a 32% tax on its imports.
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