Latest news with #Treasury Department
South China Morning Post
a day ago
- Business
- South China Morning Post
Trump claims trade deal struck with Indonesia; Bessent calls China deal timeline ‘flexible'
US President Donald Trump said on Tuesday that his administration had reached a trade deal with Indonesia, while his Treasury Department chief cut China some slack on the deadline for a final deal of its own. Advertisement Speaking to reporters at the White House on Tuesday, Trump said that Indonesia would charge no tariffs on US imports, while exports from the southeast Asian country to America would be subject to a 19 per cent levy. 'They are going to pay 19 per cent and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced,' Trump said. On his Truth Social account, Trump called the deal a 'landmark', saying that it 'opens up Indonesia's ENTIRE MARKET to the United States for the first time in History'. '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, many of them 777's,' Trump wrote in his post. Advertisement 'For the first time ever, our Ranchers, Farmers, and Fishermen will have Complete and Total Access to the Indonesian Market of over 280 million people.'
Bloomberg
5 days ago
- Business
- Bloomberg
US Tariffs Revenue Climbs to Fresh Record for Single Fiscal Year
US revenue from customs duties this fiscal year surpassed $100 billion for the first time, reflecting higher tariffs imposed by the Trump administration. The Treasury Department recorded $27 billion in customs-duties revenue for June, bringing fiscal year-to-date inflows from levies to $113 billion, according the agency's monthly budget statement. Total government revenue for the month increased about 13% from a year ago.
