Indonesia has agreed to eliminate tariffs on more than 99% of U.S. goods and scrap all non-tariff barriers facing American firms, while the U.S. will drop threatened tariffs on Indonesian products to 19% from 32%,

Indonesia speeds up trade deals, including one with the EU, to counter a new 19 per cent US tariff and boost exports such as shoes, palm oil and coffee.

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.