Donald Trump Announces 'Great Deal' With Indonesia, Offers No Details
Donald Trump announces new trade deal with Indonesia on Truth Social; details unclear.
US President Donald Trump said that he has reached a new trade agreement with Indonesia but provided no specifics about the terms. Posting on his social media platform Truth Social, the US President wrote, 'Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!"
Neither the White House nor Indonesia's Ministry of Economic Affairs have shared details of the agreement, leaving investors guessing about the scope and impact of the deal, particularly given Donald Trump's recent threat to impose a 32% tariff on Indonesian goods starting August 1.
Markets React With Caution
The iShares MSCI Indonesia ETF rose as much as 0.7% in early trading Tuesday following Donald Trump's announcement but broader markets remained mostly stable. The S&P 500 was little changed as investors appeared to take a wait-and-see approach.
US-Indonesia Trade Talks
Last week, Indonesia dispatched its top trade negotiator to Washington in hopes of securing a resolution and avoiding the looming tariff. According to Indonesian officials, Coordinating Minister for Economic Affairs Airlangga Hartarto held closed-door talks last week with several senior US officials, including US Trade Representative Jamieson Greer, Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. During those meetings, Airlangga Hartarto reportedly presented a series of bilateral business proposals and investment opportunities.
Donald Trump's Tariffs
Since April, Donald Trump has unveiled a series of country-by-country tariff demands, leaving trade partners scrambling to respond before arbitrary deadlines. Donald Trump's Indonesia announcement follows similar moves with Vietnam, the UK and China. Most of these declarations, however, have fallen short of formal trade deals. Donald Trump's latest round of letters extended a July 9 deadline to August 1, warning countries that new tariffs would take effect unless they strike 'better terms" with Washington.
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First Published:
July 15, 2025, 22:12 IST
News world Donald Trump Announces 'Great Deal' With Indonesia, Offers No Details
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