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Business Standard
23-07-2025
- Business
- Business Standard
Trump slaps 19% tariffs on Philippines, Indonesia; US to face zero duties
US President Donald Trump on Tuesday (local time) announced new trade agreements with the Philippines and Indonesia, imposing a 19 per cent tariff on their exports while allowing US goods to enter duty-free. The development follows a White House meeting between Trump and Philippine President Ferdinand Marcos Jr. Trump made the announcement on his social media platform Truth Social. "President Ferdinand Marcos, of the Philippines, is just leaving the White House, with all of his many Representatives. It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs. The Philippines will pay a 19% Tariff. In addition, we will work together Militarily [sic]," he said. Marcos termed the deal a "significant achievement' for Manila and also said the Philippines will increase imports of soy and wheat products as well as medicines from the US, Bloomberg reported. US-Philippines deficit According to the US government data, in 2024, Washington had a trade deficit of $4.9 billion with Manila, with total trade at $23.5 billion. Ahead of the meeting with the Trump administration, Marcos' government indicated that they were willing to offer zero tariffs on some US goods, reported the Associated Press. This marked a shift in the stance of the Marcos government, which previously said it could not offer a zero tariff to Washington, like Vietnam and Indonesia, claiming that it would hurt domestic businesses. Trump signs deal with Indonesia In a separate post on Truth Social, Trump announced a deal with Indonesia, bringing down their tariff rate from 32 per cent to 19 per cent. "It is my Great Honor to announce our Trade Agreement with the Republic of Indonesia, as represented by their Highly Respected President, Prabowo Subianto. It is agreed that Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers [sic]," he said. He also announced that Washington will sell American-made goods to Indonesia at zero tariff rate. "In addition, Indonesia will supply the United States with their precious Critical Minerals, as well as sign BIG Deals, worth Tens of Billions of Dollars, to purchase Boeing Aircraft, American Farm products, and American Energy. This Deal is a HUGE WIN for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers", Trump noted. The US had a trade imbalance of $17.9 billion with Indonesia, reported the Associated Press. Trump sends out tariff letters As the 90-day deadline ended on July 9, the Trump administration started sending out letters to trading partners, announcing to them new tariff rates, which would come into effect on August 1. He previously sent out letters to Japan and South Korea, charging both allies with 25 per cent tariffs. Soon after, he sent out letters to 12 other countries, including Indonesia, which was threatened with a 32 per cent tariff.
News18
23-07-2025
- Business
- News18
White House Announces US, Indonesia Trade Deal; Trump Calls It 'Huge Win'
Last Updated: While the US will now sell American-made products to Indonesia at a zero tariff rate, Indonesia will pay 19% tariff on all of its products coming into the USA. The United States and the Republic of Indonesia on Wednesday agreed to a framework for negotiating an Agreement on Reciprocal Trade to strengthen bilateral economic ties, the White House said in a joint statement on Tuesday. 'Indonesia will eliminate approximately 99 percent of tariff barriers for a full range of US industrial and US food and agricultural products exported to Indonesia," according to the statement released by the White House. While the United States of America will now sell American-made products to Indonesia at a zero tariff rate, Indonesia will pay 19 percent tariff on all of its products coming into the USA. The White House also stated that the two countries will negotiate facilitative rules of origin to ensure that the benefits of the agreement accrue primarily to the United States and Indonesia. Taking to Truth Social, Trump wrote, 'It is my Great Honor to announce our Trade Agreement with the Republic of Indonesia, as represented by their Highly Respected President, Prabowo Subianto. It is agreed that Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers. The United States of America will now sell American-made products to Indonesia at a Tariff Rate of ZERO, while Indonesia will pay 19% on all of their products coming into the U.S.A. — The Best Market in the World!" He further added that Indonesia will supply the United States with their precious critical minerals, as well as sign BIG Deals, worth Tens of Billions of Dollars, to purchase Boeing Aircraft, American Farm products, and American Energy. 'This Deal is a HUGE WIN for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!" he added. The White House also noted that Indonesia will work to address barriers for US exports, including through the removal of import restrictions or licensing requirements on US remanufactured goods or their parts; the elimination of pre-shipment inspection or verification requirements on imports of US goods; and the adoption and implementation of good regulatory practices. In the weeks ahead, the United States and Indonesia will negotiate and finalise the Agreement on Reciprocal Trade, prepare the Agreement for signature, and undertake domestic formalities in advance of the Agreement entering into force, the White House concluded. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
New York Post
22-07-2025
- Business
- New York Post
Indonesia trade deal will remove critical-mineral export restrictions: WH
WASHINGTON — Indonesia will remove restrictions on its critical-mineral exports to the US as part of the countries' new tariff agreement, the White House revealed Tuesday. President Trump had announced last week that he would be settling for a 19% tariff rate on the world's fourth most populous country, just a week after threatening a 32% rate. In addition to agreeing to the new nearly 20% rate, Indonesia — an archipelago of more than 17,500 islands — also said OK to removing export restrictions on critical minerals and verification requirements on imports of US goods, a White House official told reporters Tuesday. Indonesia will meanwhile levy a 0% tariff on more than 99% of US goods and will eliminate nearly all trade barriers, the official said. 3 President Trump announced Indonesia will open its market up to the US in exchange for Trump imposing a 19% tariff. Getty Images At the start of his trade war announcement in April, Trump claimed that Indonesia was charging up to 64% on some US goods. 'The United States of America will now sell American Made products to Indonesia at a Tariff Rate of ZERO, while Indonesia will pay 19% on all of their products coming into the U.S.A. — The Best Market in the World!' Trump wrote on Truth Social. 'In addition, Indonesia will supply the United States with their precious Critical Minerals, as well as sign BIG Deals, worth Tens of Billions of Dollars, to purchase Boeing Aircraft, American Farm products, and American Energy,' the president said. Trump said last week that the 'biggest part of the deal' is Indonesia opening up its markets to US exports by lowering restrictions — and also by freeing up the country's copper ore exports. 'One of the things, as you know, they're known for is very high-quality copper, which we will be using,' Trump said at the time. The deal also includes provisions for Indonesia to accept imports of US vehicles built to US federal motor vehicle safety and emissions standards and 'accepting FDA certificates and prior marketing authorizations for medical devices and pharmaceuticals,' according to the White House. 3 Containers are stacked on a cargo ship at the Jakarta International Container Terminal in Tanjung Priok Port, Jakarta, earlier this month. AFP via Getty Images The US imports textiles, agricultural products and machinery from the island country. In 2022, the import numbers totaled $34.5 billion. Its top trading partners are China and the US, and the White House pointed to the population of the country — more than 280 million — as evidence of the importance of the deal. 'Indonesia is one of the largest countries in the world to represent the vast consumer markets that we want to ship to,' a Trump administration official said on a phone call with reporters. 3 Indonesian President Prabowo Subianto gestures as he speaks to the media upon arrival from his overseas trip at Halim Perdanakusuma Airbase in Jakarta, Indonesia, last week. AP The deal with Indonesia is just one of several the Trump administration has made in its ongoing global trade negotiations. Trump announced a 19% tariff agreement with the Philippines earlier Tuesday and is looking to strike more agreements before Aug. 1, when the administration has threatened to hike tariff rates on countries who haven't come to the table.
Washington Post
22-07-2025
- Automotive
- Washington Post
Air India says no issues in locking mechanism of fuel control switches in Boeing fleet
NEW DELHI — Air India said Tuesday that it had completed precautionary inspections on the locking mechanism of fuel control switches for select Boeing aircrafts, with 'no issues' found. The announcement came days after a preliminary investigation into last month's Air India plane crash stated that the switches shifted and flipped within seconds, starving both engines of fuel.
Yahoo
21-04-2025
- Business
- Yahoo
China threatens countermeasures against countries that 'appease' US on trade war
China has threatened to take countermeasures against any country that strikes trade deals with the U.S. at Beijing's expense. China's Commerce Ministry issued the warning in a statement on Monday in the latest round of rhetoric surrounding the trade war between the world's two biggest economies. "China firmly opposes any party reaching a deal at the expense of China's interests," the ministry said in a statement. "If this happens, China will never accept it and will resolutely take countermeasures in a reciprocal manner. China is determined and capable of safeguarding its own rights and interests." "Appeasement will not bring peace, and compromise will not be respected," the statement continued. China Poised To Interfere As Trump Seeks Tariff Deal With Eu, Experts Warn President Donald Trump paused sweeping tariffs he announced on dozens of countries on April 2, though he kept the 145% tariff on Chinese goods. Beijing had retaliated with 125% duties levied on U.S. imports. Read On The Fox Business App Nearly 50 countries have already approached U.S. trade officials to discuss the tariffs, U.S. Trade Representative Jamieson Greer said earlier this month. China Begins Returning Boeing Aircraft To Us On Thursday, Trump suggested that Washington and Beijing could reach a trade deal in as soon as three to four weeks. "They have reached out a number of times," Trump said, referring to high-level Chinese officials. When asked how frequently they have been in touch since last week – after Trump tripled his Chinese tariff increase from 54% to 145% – the president responded, "A lot." Click To Get The Fox News App China, however, has vowed to fight a trade war "to the end," saying it will only come to the table for talks if the U.S. shows "the right attitude of equality, respect and mutual benefit." Fox News Digital's Alec Schemmel and Reuters contributed to this article source: China threatens countermeasures against countries that 'appease' US on trade war
