Indonesia, tariff
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The US tariff deal with Indonesia is set to ease critical mineral export restrictions from the Southeast Asian country to the US, the White House said Tuesday.
The Trump administration expects that Indonesia’s decision to bring down trade barriers will result in at least $50 billion in additional market access for US goods.
Indonesia secured a trade deal with the United States on July 16, which, at first glance, looks like a lifeline, as it locks in a maximum 19 percent tariff on Indonesian exports to the US through 2029. The deal was struck at a time of intensifying US protectionism, and offers what appears to be a temporary shield to Indonesia.
Indonesia will remove restrictions on its critical-mineral exports to the US as part of the countries’ new tariff agreement, the White House revealed Tuesday.