Latest news with #Prabowo Subianto
Yahoo
7 days ago
- Business
- Yahoo
Trump Touts Trade Truce With Indonesia, Indicates India Might Not Be Far Behind
President Donald Trump announced a 'landmark' trade deal with Indonesia on Tuesday, wherein the newest BRICS Alliance member will face 19-percent duties on goods exported to the United States. In a Truth Social post, the Commander in Chief noted that he spoke with President Prabowo Subianto by phone about removing trade barriers for U.S. imports. The Indonesian leader also agreed that the country will purchase a substantial volume of American-made products. More from Sourcing Journal Canada, Losing Confidence in US Trade Deal, Cozies Up to Mexico What's the Status on Digital Product Passport Implementation? UK Loosens Trade Restrictions for Developing Apparel-Producing Nations 'As part of the Agreement, Indonesia has committed to purchasing $15 Billion Dollars in U.S. Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets,' Trump wrote, adding that U.S. farmers, ranchers and fisherman will now have duty-free access to Indonesia's 280-million-person consumer market. Notably, the news was not released in the same letter format of recent tariff announcements, which have read as mandates rather than joint resolutions. The letter did contain familiar language warning the country against transshipping goods from other sourcing locales, the subtext being: don't help China evade U.S. tariffs. By Tuesday afternoon, the Southeast Asian nation's trade officials had not yet confirmed the deal. President Subianto, has, however, in recent days posted several tributes on X to dealings with other world leaders, including at the BRICS Summit in Brazil last week and a trip to Belgium to meet with European leaders like European Commission President Ursula von der Leyen. Subianto said the two spoke about expanding cooperation between Indonesia and the European Union. 'We agreed to deepen the Comprehensive Economic Partnership Agreement (CEPA) to open greater opportunities for sustainable trade and investment within the country,' he wrote. During the meeting, the Indonesian president expressed his 'strong hope' that the EU 'will play a more active role in the economic development of Indonesia and the ASEAN region, for the future of global prosperity.' European leaders were caught off guard over the weekend when President Trump threatened to levy 30-percent duties on goods from across the 27-member trade bloc beginning on Aug. 1. European leaders and Commission trade officials expressed disappointment and dismay at the surprise social media post containing the tariff announcement, as they have reportedly been negotiating ceaselessly with Washington in recent weeks. By Monday, their resolve had hardened, with many heads of state indicating that they plan to work with the European Commission to enact countermeasures if a deal cannot be reached with the U.S. before the deadline. Trump indicated to reporters at the White House that he would be willing to continue discussions in pursuit of a deal. The U.S. president has also made strongly worded threats against the BRICS Alliance, which includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates and, notably, Indonesia, which joined the trade bloc earlier this year. Most recently, he threatened to hit BRICS countries with additional 10-percent tariffs, expressing concerns that the collective threatens American interests and aims to dethrone the U.S. dollar by establishing a new reserve currency. While the president hasn't hidden his animosity for the Russia-and-China-led coalition (and he continues to threaten Russia with significant tariffs for perpetuating the war in Ukraine) he appears to believe another member of BRICS is worth turning—and may be close to a trade deal. Following Tuesday's deal with Indonesia, Trump told reporters, 'We're going to have access into India… because of what we're doing with these tariffs.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
17-07-2025
- Politics
- South China Morning Post
Prabowo's Bastille Day parade debut in France boosts Indonesia's global influence
Indonesian President Prabowo Subianto's visit to France brought not only greater visibility for his country but also a chance for Jakarta to portray itself as an active player globally, according to observers. During the three-day state visit at the invitation of French President Emmanuel Macron and which ended on Tuesday, Prabowo attended the Bastille Day Military Parade. Jakarta sent a joint contingent of 509 personnel from the military and national police to march alongside the French Armed Forces along the Champs-Élysées on Monday. 'Indonesia's presence in the parade symbolises the deepening strategic defence cooperation between Indonesia and France,' Jakarta's Foreign Ministry said in a statement on Tuesday. In a speech to the French military, Macron called on his army to join hands with countries that are 'like-minded', including Indonesia. 'Let's defend this freedom alongside other great nations, our European partners, our allies, but also the nations that are far away from us like Indonesia,' he said. Describing the trip as underscoring the growing strategic partnership between the two countries, Indonesia's Antara news agency said that the two leaders discussed bilateral cooperation and the two-state solution for the Palestine-Israel conflict The Indonesian army parade during the Bastille day celebrations in Paris on Monday. Photo: EPA Prabowo's visit comes just over a month after a state visit by Macron to Indonesia, where the two countries signed 21 strategic agreements across various sectors and adopted four joint declarations on global peace and cultural cooperation.
Khaleej Times
16-07-2025
- Business
- Khaleej Times
Indonesia hails 'new era' with US after Trump trade pact
Indonesia's president on Wednesday hailed a "new era" of trade relations with the United States, after Donald Trump said he would slash tariffs faced by Southeast Asia's biggest economy from 32 per cent to 19 per cent. The Trump administration has been under pressure to wrap up trade pacts after promising a flurry of deals, as countries sought talks with Washington to avoid the US president's threatened tariffs ahead of an August 1 deadline. "I had a very good call with President Donald Trump. Together, we agreed and concluded to take trade relations between Indonesia and the United States into a new era of mutual benefit," President Prabowo Subianto wrote on Instagram. Prabowo confirmed the new tariff rate after landing back in Indonesia from Europe. "We agreed... the tariffs to be lowered from 32 (per cent) to 19 (per cent)," he told reporters, adding he could visit Washington in September or October. Prabowo, a populist former general, posted pictures of himself laughing on the phone with Trump, but did not give any specifics about their trade deal. Prabowo's presidential spokesperson confirmed the 19 per cent rate and said it was struck after direct negotiations. "It is an extraordinary negotiation conducted directly by our president with President Donald Trump," spokesperson Hasan Nasbi said, adding that the deal was "progress that cannot be called small". Trump said the rate reduction was in return for significant purchase commitments from Jakarta, including a pledge to buy 50 Boeing jets. Indonesia has committed to spending billions to increase energy, agriculture and merchandise imports from the United States. Trump and Prabowo have developed a warm relationship since the US leader first clinched the presidency in 2016. Washington invited then-defence minister Prabowo to visit in 2020, lifting a de facto visa ban, which had been in effect over alleged crimes committed during the reign of Indonesia's late dictator Suharto. After Trump announced the tariffs in April, Prabowo sent his top economic minister to Washington, and also suggested that Trump was maybe helping Jakarta by causing it to rethink its trade surplus with the world's top economy. Data from the US Trade Representative office shows Washington's goods trade deficit with Indonesia was $17.9 billion in 2024, up 5.4 per cent from the year before. The deal struck with Indonesia would be slightly better than the 20 per cent given to Southeast Asian neighbour Vietnam. Both Indonesia and Vietnam are key markets for the shipment of Chinese goods. Trump said the deal with Indonesia would include a penalty for goods transiting Indonesia from China. But experts said the Indonesia pact appeared one-sided. "The 19 per cent tariff on Indonesian exports to the US, while the US can enjoy 0 per cent, actually poses a significant risk to Indonesia's trade balance," said Bhima Yudhistira Adhinegara, executive director of the Center of Economic and Law Studies. "Do not be too reliant on exports to the US, because the result of the tariff negotiation is still detrimental to Indonesia's position."
Al Jazeera
16-07-2025
- Business
- Al Jazeera
Indonesia's Prabowo hails ‘new era' in US ties after Trump trade deal
Indonesia's leader has welcomed United States President Donald Trump's announcement that he will slash tariffs for Southeast Asia's biggest economy, hailing the beginning of a 'new era of mutual benefit'. Indonesian President Prabowo Subianto's remarks on Wednesday came after Trump said he had sealed a trade deal with Jakarta under which his tariff rate would fall from 32 percent to 19 percent. 'I had a very good call with President Donald Trump,' Indonesian President Prabowo Subianto said in a post on Instagram on Wednesday. 'Together, we agreed and concluded to take trade relations between Indonesia and the United States into a new era of mutual benefit between our two great nations. President Trump extends his warm regards to the people of Indonesia.' Prabowo's presidential spokesman, Hasan Nasbi, told a news conference that the agreement was the culmination of an 'extraordinary effort' by Indonesia's negotiating team. 'So if we use an analogy, there is a house that built a fence, and the fence was initially 32 for us. After negotiations, the fence could be lowered to 19,' Nasbi told local media in Jakarta. 'Yes, of course, this is progress that cannot be called small progress, nor can it be considered a minor achievement.' Nasbi declined to elaborate on the details of the agreement beyond the lower tariff rate, saying Prabowo would provide more information upon returning from his state visit to France. In his initial announcement of the deal on Truth Social on Tuesday, Trump said Indonesia had agreed to buy $15bn of US energy exports, $4.5bn of US agricultural products, and 50 Boeing jets. Trump said later on Tuesday that the US exporters would have 'full access to everything' and pay no tariffs. 'They are going to pay 19 percent, and we are going to pay nothing,' Trump told reporters at the White House. 'I think it's a good deal for both parties.' Indonesia ranked 24th among the US' top trading partners in 2024, with two-way goods trade worth $38.3bn, according to the Office of the US Trade Representative. The US had a $17.9bn trade deficit with Indonesia the same year, according to the trade office.
South China Morning Post
16-07-2025
- Business
- South China Morning Post
Will Indonesia lose out after Trump's ‘landmark' trade deal with Prabowo?
Indonesia has hailed its new trade deal with the United States as a diplomatic 'success' that will lower tariffs and boost exports to the world's largest economy, even as analysts warn the agreement could harm local farmers and compromise energy security. Hasan Nasbi, head of the presidential communications office, said the deal should be 'appreciated', noting that the 19 per cent tariff imposed on Indonesian goods entering the US market was lower than Vietnam's 20 per cent rate. Hasan said that the new levy was not a 'small achievement' as it was 'the result of extraordinary efforts by our negotiating team,' led by President Prabowo Subianto Prabowo wrote on Instagram: 'I had a very good call with President Donald Trump . Together, we agreed and concluded to take trade relations between Indonesia and the United States into a new era of mutual benefit.' Trump on Tuesday announced what he called a 'landmark deal' with Prabowo, whom he described as 'highly respected'. Under the agreement, US goods will enter Indonesia without tariffs along with an easing of other trade barriers, while Indonesia commits to major purchases of American products. 'Indonesia has committed to purchasing US$15 billion in US energy, US$4.5 billion in American agricultural products, and 50 Boeing jets, many of them 777s,' Trump wrote.
