Bad news for this friend of India as US president Trump imposes 19% tariff, the country is....
US-Indonesia trade deal: In a significant announcement for the global economy and most specifically the economy of Asia, the United States of America, under the leadership of President Donald Trump has announced a new trade deal with Indonesia. As a part of the trade deal between US President Donald Trump and Indonesian President Prabowo Subianto, the tariffs on Indonesian imports to USA will be reduced to 19 per cent. Notably, the tariffs have been reduced on the country from the previously proposed 32 per cent as a part of the new deal. In addition to this, it has also been reportedly announced that there will be no tax will be imposed on the exports from the United States to Indonesia from now on. What Donald Trump said on US-Indonesia deal?
'As part of the agreement, Indonesia will buy 50 Boeing jets, many of them 777s, along with $15 billion worth of US energy and $4.5 billion in American farm products,' US President Trump said on his social media platform, Truth Social. Notably, Donald Trump had earlier described the deal with Indonesia as a 'great deal for everybody.' Why Trump threatened Indonesia?
Readers should note that US President Trump had warned Indonesia last week that if it failed to reach a deal till the specified time, the higher 32 per cent tariff would take effect from August 1 on the Asian economic giant. Also, while the new rate of 19 per cent has been announced, it is not yet clear when it will come into force, the IANS report said. Why is US President Trump under pressure?
Readers should note that US President Donald Trump is under pressure to deliver his '90 deals in 90 days' promise.
Indonesia's former Deputy Foreign Minister Dino Patti Djalal reacted to the new deal with US saying that the government was satisfied with the outcome and he made the remarks during a panel hosted by Foreign Policy magazine, a report by Al Jazeera said.
(With inputs from agencies)
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