President Trump said the agreement would partly walk back some of the steep tariffs he threatened on the country last week. Indonesia’s president called Mr. Trump a “tough negotiator.”
Indonesia’s president, Prabowo Subianto, confirmed on Wednesday the broad outlines of a trade agreement with the United States that was reached after what he called “tough negotiations” with Washington.
Under the terms, which President Trump on Tuesday called a “great deal for everybody,” U.S. exports to Indonesia would face no tariffs, while Indonesian goods would be charged a tariff of 19 percent in the United States.
Mr. Prabowo confirmed in brief remarks in Jakarta that the two nations had “finally” reached an agreement. “We understand their interests, and they understand ours,” he added.
The announcement comes as the Trump administration is trying to close trade deals with numerous countries, and threatening to impose double-digit tariffs on the exports of two dozen nations as of Aug. 1 if agreements aren’t reached.
U.S. and Indonesian officials have been engaged in trade talks for several months. Last week, Mr. Trump threatened Indonesia with a 32 percent tariff on its exports in a letter posted to his social media account, as he sent similar form letters to dozens of countries. Indonesian officials said they were surprised to receive the letter, given that talks had been going well.
“I think it’s a good deal for both parties,” Mr. Trump said, while saying that a forthcoming deal with India would also follow similar lines. He added that Indonesia also had minerals and “very high-quality copper, which we’ll be using.”
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