US publishes details of Indonesia 'reciprocal' tariff trade deal
ISMI DAMAYANTI
JAKARTA -- The U.S. has unveiled details of its trade deal with Indonesia under which Jakarta has committed to slash nearly all tariffs on American imports and Washington will cut its threatened 32% "reciprocal" tariff on Indonesia to 19%, paving the way for a comprehensive expansion of market access across the two economies.
A joint statement published by the White House on Tuesday evening U.S. times said that Indonesia will eliminate 99% of tariff barriers for American industrial, agricultural and food products, including beef and dairy. Information and communications technology and chemicals are also included. Some Indonesian products not produced domestically in the U.S. may be eligible for further tariff reductions, according to the statement.
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