Trump says US struck trade deal with Indonesia, without providing details
'Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!' Trump said in a social media post.
Trump had threatened the Southeast Asian country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week.
He had sent similar letters to roughly two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 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.
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