Latest news with #A23
Time of India
18 hours ago
- Entertainment
- Time of India
Betting apps probe: ED summons top film stars
1 2 Hyderabad: Enforcement Directorate has summoned four prominent film actors — Vijay Deverakonda, Rana Daggubati, Prakash Raj and Manchu Lakshmi — as part of its investigation into the alleged promotion of illegal online betting and gaming platforms. The summons were issued after the agency registered an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act against 29 actors, influencers and content creators. The ECIR is based on FIRs filed by police in Panjagutta, Miyapur, Visakhapatnam, Suryapet and Cyberabad in Telangana and Andhra Pradesh. The FIRs allege that several celebrities and social media figures promoted gambling and online betting apps. Besides the four actors who have been summoned, others under the ED's lens include actors Nidhi Agarwal, Pranitha, Sreemukhi and Shyamala. Several YouTubers and digital influencers such as Harsha Sai and Bayya Sunny Yadav, and a YouTube channel, 'Local Boi Nani', have also been named in the investigation. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Sources said Rana has been asked to appear before the central agency on July 23, followed by Prakash Raj on July 30, Deverakonda on Aug 6, and Lakshmi on Aug 13. ED is expected to continue issuing summons to others linked to the case in a phased manner. Telangana govt has taken a firm stand against online betting and gambling by enacting one of the most stringent legal frameworks in the country. Under the Telangana Gaming (Amendment) Act, 2017, all forms of online betting and gaming for stakes — whether skill-based or chance-based — are banned in the state. This includes even those platforms that are considered legal or skill-based in other parts of India, such as rummy or fantasy sports. The law prohibits both hosting and participation in such games within Telangana's jurisdiction, and violators can face criminal charges. The investigation was triggered by a complaint filed on March 19 by a Miyapur resident, P M Phanindra Sarma. In his statement, Sarma said he had noticed a growing trend of young people in his area turning to online betting after seeing promotional content featuring celebrities. He alleged that actors like Rana and Prakash Raj endorsed JungleeRummy, while Deverakonda was seen promoting A23 — all betting platforms. Sarma claimed that such endorsements mislead the public by promising quick financial returns, pushing many into debt and financial distress. He said he had nearly invested in one such app but decided against it following his family's advice. His complaint has since led to wider scrutiny of celebrity involvement in online gambling promotions.
Time of India
a day ago
- Entertainment
- Time of India
Illegal betting app case: ED summons Rana Daggubati, Prakash Raj, Vijay Deverakonda; actors to appear from July 23
HYDERABAD: The has summoned four leading film personalities — , , , and Manchu Lakshmi — in connection with its ongoing probe into the promotion of illegal online betting apps. Sources confirmed that Rana Daggubati has been directed to appear on July 23, Prakash Raj on July 30, Vijay Deverakonda on August 6, and Manchu Lakshmi on August 13. Tired of too many ads? go ad free now The agency will continue issuing summons to others named in the case in a phased manner. The summons follow the registration of an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA) against 29 actors, influencers, and content creators. The action stems from four FIRs registered by police in Panjagutta, Miyapur, Visakhapatnam, Suryapet, and Cyberabad, all alleging promotion of gambling platforms and illegal betting applications. Among those under investigation are Rana Daggubati, Vijay Deverakonda, Prakash Raj, Nidhi Agarwal, Praneetha, Manchu Lakshmi, Sreemukhi, and Shyamala. Several social media personalities and YouTubers, including Harsha Sai, Bayya Sunny Yadav, and the 'Local Boy Nani' YouTube channel, have also been named. Public complaints trigger probe The case has its roots in a complaint filed on March 19, 2025, by P.M. Phanindra Sarma of Miyapur. In his statement to police, Sarma said he observed that many young individuals in his locality were becoming drawn to online betting after encountering celebrity endorsements on social media platforms. He said he himself nearly invested in such an app but refrained at his family's insistence. He alleged that celebrities and influencers were actively promoting gambling platforms through digital ads, influencing the public and causing financial losses. Among those he identified were Rana Daggubati promoting JungleeRummy, Prakash Raj with JungleeRummy, and Vijay Deverakonda endorsing A23. Sarma claimed that these platforms target vulnerable groups with promises of easy returns, pushing them toward debt and distress.
The Advertiser
7 days ago
- Business
- The Advertiser
Trump touts deal with Indonesia, flags pharma tariffs
US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between two per cent and three per cent before Trump's return to the White House in January. Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. "They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. In addition, Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. The US president also said he will "probably" announce tariffs on pharmaceutical drugs. Trump told reporters such an announcement could come at the "end of the month." Trump said he would start out at a lower tariff rate and give companies a year to build domestic factories before they face higher import tax rates. "... there are two ways you do it. You make money, or you have them move here so they don't have to pay the tariff. Those are the two ways. "The pharmaceutical companies are moving back to America, where they should be." Earlier this month the US president laid out plans to impose 200 per cent tariffs on drug imports, threatening Australia's third-most significant export. with AP US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between two per cent and three per cent before Trump's return to the White House in January. Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. "They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. In addition, Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. The US president also said he will "probably" announce tariffs on pharmaceutical drugs. Trump told reporters such an announcement could come at the "end of the month." Trump said he would start out at a lower tariff rate and give companies a year to build domestic factories before they face higher import tax rates. "... there are two ways you do it. You make money, or you have them move here so they don't have to pay the tariff. Those are the two ways. "The pharmaceutical companies are moving back to America, where they should be." Earlier this month the US president laid out plans to impose 200 per cent tariffs on drug imports, threatening Australia's third-most significant export. with AP US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between two per cent and three per cent before Trump's return to the White House in January. Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. "They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. In addition, Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. The US president also said he will "probably" announce tariffs on pharmaceutical drugs. Trump told reporters such an announcement could come at the "end of the month." Trump said he would start out at a lower tariff rate and give companies a year to build domestic factories before they face higher import tax rates. "... there are two ways you do it. You make money, or you have them move here so they don't have to pay the tariff. Those are the two ways. "The pharmaceutical companies are moving back to America, where they should be." Earlier this month the US president laid out plans to impose 200 per cent tariffs on drug imports, threatening Australia's third-most significant export. with AP US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between two per cent and three per cent before Trump's return to the White House in January. Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. "They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. In addition, Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. The US president also said he will "probably" announce tariffs on pharmaceutical drugs. Trump told reporters such an announcement could come at the "end of the month." Trump said he would start out at a lower tariff rate and give companies a year to build domestic factories before they face higher import tax rates. "... there are two ways you do it. You make money, or you have them move here so they don't have to pay the tariff. Those are the two ways. "The pharmaceutical companies are moving back to America, where they should be." Earlier this month the US president laid out plans to impose 200 per cent tariffs on drug imports, threatening Australia's third-most significant export. with AP
The Advertiser
7 days ago
- Business
- The Advertiser
US sets 19 per cent tariff on Indonesia goods in deal
US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between 2 per cent and 3 per cent before Trump's return to the White House in January. Consumption shifts would bring the rate down to 19.7 per cent but it is still the highest since 1933. Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. "They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. In addition, Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. The top US import categories from Indonesia, according to US Census Bureau data retrieved on the International Trade Centre's TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tyres, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Trump's pattern of backing off his tariff threats. So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between the two countries. Trump said talks with India were moving in a similar direction. "India basically is working along that same line. We're going to have access to India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs," he said. US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between 2 per cent and 3 per cent before Trump's return to the White House in January. Consumption shifts would bring the rate down to 19.7 per cent but it is still the highest since 1933. Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. "They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. In addition, Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. The top US import categories from Indonesia, according to US Census Bureau data retrieved on the International Trade Centre's TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tyres, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Trump's pattern of backing off his tariff threats. So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between the two countries. Trump said talks with India were moving in a similar direction. "India basically is working along that same line. We're going to have access to India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs," he said. US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between 2 per cent and 3 per cent before Trump's return to the White House in January. Consumption shifts would bring the rate down to 19.7 per cent but it is still the highest since 1933. Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. "They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. In addition, Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. The top US import categories from Indonesia, according to US Census Bureau data retrieved on the International Trade Centre's TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tyres, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Trump's pattern of backing off his tariff threats. So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between the two countries. Trump said talks with India were moving in a similar direction. "India basically is working along that same line. We're going to have access to India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs," he said. US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between 2 per cent and 3 per cent before Trump's return to the White House in January. Consumption shifts would bring the rate down to 19.7 per cent but it is still the highest since 1933. Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. "They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. In addition, Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. The top US import categories from Indonesia, according to US Census Bureau data retrieved on the International Trade Centre's TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tyres, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Trump's pattern of backing off his tariff threats. So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between the two countries. Trump said talks with India were moving in a similar direction. "India basically is working along that same line. We're going to have access to India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs," he said.
West Australian
7 days ago
- Business
- West Australian
US President Donald Trump strikes Indonesia tariff deal, posts on Truth Social, US secures access
US President Donald Trump says the United States will impose a 19 per cent tariff on goods from Indonesia under a new agreement with the Southeast Asian country. He said more deals were in the works as he continued to press for what he views as better terms with trading partners and a path to reducing a massive US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by Trump's administration ahead of an August 1 deadline for tariffs on most US imports to rise again, and it came as the top US trading partner - the European Union - readied retaliatory measures should talks between US and its top trading partner fail. As that deadline approaches, talks were underway with other trading partners eager to avoid yet more levies being imposed on their exports to the US beyond a baseline 10 per cent on most goods that has been in place since April. It is a policy regime - rolled out often chaotically by Mr Trump - that has upended decades of trends toward lower trade barriers, often roiling global financial markets and economic activity along the way. Based on Mr Trump tariff announcements through July 13, Yale Budget Lab estimates the US effective average tariff rates will rise to 20.6 per cent from between 2 per cent and 3 per cent before Mr Trump's return to the White House in January. Consumption shifts would bring the rate down to 19.7 per cent but it is still the highest since 1933. Mr Trump outlined an Indonesia deal that had rough contours resembling a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10 per cent and no levies placed on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia, and a commitment to buy some US goods. 'They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced,' Mr Trump said outside the Oval Office. In addition, Mr Trump said later on his Truth Social platform that Indonesia had agreed to buy $US15 billion ($A23 billion) of US energy products, $US4.5 billion of farm products and 50 Boeing jets although no time frame for the purchases was specified. Indonesia's total trade with the US - totalling just under $US40 billion in 2024 - does not rank in the top 15 but it has been growing. US exports to Indonesia rose 3.7 per cent last year while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion. The top US import categories from Indonesia, according to US Census Bureau data retrieved on the International Trade Centre's TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tyres, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: 'We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon.' Mr Trump had threatened the country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Mr Trump's pattern of backing off his tariff threats. So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between the two countries. Mr Trump said talks with India were moving in a similar direction. 'India basically is working along that same line. We're going to have access to India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs,' he said.
