Indonesia to sign US$34 billion pact with US partners ahead of tariff negotiation deadline, minister says
Jakarta is facing a 32 per cent tariff in US markets and has previously offered to increase US imports to facilitate trade talks between the two sides.
Indonesia enjoyed a goods trade surplus of US$17.9 billion with the US in 2024, according to the US Trade Representative.
Speaking to journalists, Minister Airlangga Hartarto said the memorandum of understanding due to be signed on Jul 7 will deploy the US$34 billion for new Indonesian investments and purchases in the US.
Airlangga said that by addressing the trade balance with the US, Indonesia hoped to get a better trade deal than the one struck with Vietnam.
The US announced on Wednesday that it will place a lower-than-promised 20 per cent tariff on many Vietnamese exports, down from the original 46 per cent announced by President Donald Trump in April. REUTERS
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