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Nikkei Asia
23-07-2025
- Business
- Nikkei Asia
Indonesia to cut tariffs, non-tariff barriers in US trade deal, Trump official says
WASHINGTON (Reuters) -- Indonesia has agreed to eliminate tariffs on more than 99% of U.S. goods and scrap all non-tariff barriers facing American firms, while the U.S. will drop threatened tariffs on Indonesian products to 19% from 32%, the two countries said on Tuesday. Trump hailed the deal, which he first announced on July 15, in a posting on his Truth Social media platform, calling it a "huge win for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers." Details of a framework for the accord were released in a joint statement by both countries, and a fact sheet issued by the White House. They said negotiators for both countries would finalize the actual agreement in coming weeks. "Today, the United States of America and the Republic of Indonesia agreed to a framework for negotiating an agreement on reciprocal trade to strengthen our bilateral economic relationship, which will provide both countries' exporters unprecedented access to each other's markets," the statement said. The Indonesia deal is among only a handful reached so far by the Trump administration ahead of an Aug. 1 deadline when higher tariffs are due to kick in. The U.S. tariff rate on Indonesia, Southeast Asia's largest economy, matches the 19% announced for the Philippines earlier on Tuesday. Vietnam's tariff rate has been set at 20%. Under the agreement, Indonesia will immediately drop its plans to levy tariffs on internet data flows and it agreed to support renewal of a longstanding World Trade Organization moratorium on e-commerce duties, a senior Trump administration official told reporters on a conference call. Indonesia also will remove recently enacted pre-shipment inspections and verifications of U.S. exports that have posed problems for U.S. agricultural exports and contributed to a growing U.S. farm trade deficit, the official said. The official, who was not authorized to speak publicly, said the agreement could help restore the surplus in agricultural goods that the United States once had with Indonesia, until it implemented the pre-shipment requirements. In a win for U.S. automakers, the official said Indonesia has agreed to accept U.S. Federal Motor Vehicle Safety Standards for vehicles exported from the United States to the growing country of 280 million people. Indonesia also has agreed to remove export restrictions on industrial commodities, including critical minerals, the joint statement said. The U.S. official said it would also remove local content requirements for products using these commodities that were shipped to the United States. The joint statement said the U.S. would reduce the reciprocal tariff rate to 19%, and "may also identify certain commodities that are not naturally available or domestically produced in the United States for a further reduction in the reciprocal tariff rate." No further details were provided. The two countries said they would negotiate rules of origin to ensure the benefits of the deal accrue mainly to the U.S. and Indonesia, not third countries. They said Indonesia would work to address barriers for U.S. goods, including through the removal of import restrictions and licensing requirements on U.S. remanufactured goods or parts. Indonesia also agreed to join the Global Forum on Steel Excess Capacity and take actions to address global excess capacity in the steel sector.
The Star
23-07-2025
- Business
- The Star
Indonesia to cut tariffs, non-tariff barriers in US trade deal, Trump official says
A drone view shows stacks of containers at the Tanjung Priok port in Jakarta, Indonesia, July 10, 2025. REUTERS/Ajeng Dinar Ulfiana/File Photo WASHINGTON (Reuters) -Indonesia has agreed to eliminate tariffs on more than 99% of U.S. goods and scrap all non-tariff barriers facing American firms, while the U.S. will drop threatened tariffs on Indonesian products to 19% from 32%, the two countries said on Tuesday. Trump hailed the deal, which he first announced on July 15, in a posting on his Truth Social media platform, calling it a "huge win for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers." Details of a framework for the accord were released in a joint statement by both countries, and a fact sheet issued by the White House. They said negotiators for both countries would finalize the actual agreement in coming weeks. "Today, the United States of America and the Republic of Indonesia agreed to a framework for negotiating an agreement on reciprocal trade to strengthen our bilateral economic relationship, which will provide both countries' exporters unprecedented access to each other's markets," the statement said. The Indonesia deal is among only a handful reached so far by the Trump administration ahead of an August 1 deadline when higher tariffs are due to kick in. The U.S. tariff rate on Indonesia, Southeast Asia's largest economy, matches the 19% announced for the Philippines earlier on Tuesday. Vietnam's tariff rate has been set at 20%. Under the agreement, Indonesia will immediately drop its plans to levy tariffs on internet data flows and it agreed to support renewal of a longstanding World Trade Organization moratorium on e-commerce duties, a senior Trump administration official told reporters on a conference call. Indonesia also will remove recently enacted pre-shipment inspections and verifications of U.S. exports that have posed problems for U.S. agricultural exports and contributed to a growing U.S. farm trade deficit, the official said. The official, who was not authorized to speak publicly, said the agreement could help restore the surplus in agricultural goods that the United States once had with Indonesia, until it implemented the pre-shipment requirements. In a win for U.S. automakers, the official said Indonesia has agreed to accept U.S. Federal Motor Vehicle Safety Standards for vehicles exported from the United States to the growing country of 280 million people. Indonesia also has agreed to remove export restrictions on industrial commodities, including critical minerals, the joint statement said. The U.S. official said it would also remove local content requirements for products using these commodities that were shipped to the United States. The joint statement said the U.S. would reduce the reciprocal tariff rate to 19%, and "may also identify certain commodities that are not naturally available or domestically produced in the United States for a further reduction in the reciprocal tariff rate." No further details were provided. The two countries said they would negotiate rules of origin to ensure the benefits of the deal accrue mainly to the U.S. and Indonesia, not third countries. They said Indonesia would work to address barriers for U.S. goods, including through the removal of import restrictions and licensing requirements on U.S. remanufactured goods or parts. Indonesia also agreed to join the Global Forum on Steel Excess Capacity and take actions to address global excess capacity in the steel sector. (Reporting by Andrea Shalal and David Lawder; Editing by Jamie Freed)
Straits Times
22-07-2025
- Business
- Straits Times
Indonesia to cut tariffs, non-tariff barriers in US trade deal, Trump official says
WASHINGTON - Indonesia has agreed to eliminate tariffs on more than 99% of U.S. goods and scrap all non-tariff barriers facing American firms, while the U.S. will drop threatened tariffs on Indonesian products to 19% from 32%, the two countries said on Tuesday. Trump hailed the deal, which he first announced on July 15, in a posting on his Truth Social media platform, calling it a "huge win for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers." Details of a framework for the accord were released in a joint statement by both countries, and a fact sheet issued by the White House. They said negotiators for both countries would finalize the actual agreement in coming weeks. "Today, the United States of America and the Republic of Indonesia agreed to a framework for negotiating an agreement on reciprocal trade to strengthen our bilateral economic relationship, which will provide both countries' exporters unprecedented access to each other's markets," the statement said. The Indonesia deal is among only a handful reached so far by the Trump administration ahead of an August 1 deadline when higher tariffs are due to kick in. The U.S. tariff rate on Indonesia, Southeast Asia's largest economy, matches the 19% announced for the Philippines earlier on Tuesday. Vietnam's tariff rate has been set at 20%. Under the agreement, Indonesia will immediately drop its plans to levy tariffs on internet data flows and it agreed to support renewal of a longstanding World Trade Organization moratorium on e-commerce duties, a senior Trump administration official told reporters on a conference call. Top stories Swipe. Select. Stay informed. World Trump says US will charge 19% tariff on goods from Philippines, down from 20% Singapore Two found dead after fire in Toa Payoh flat Singapore Singaporeans continue to hold world's most powerful passport in latest ranking Singapore Singaporeans aged 21 to 59 can claim $600 SG60 vouchers from July 22 Singapore Singapore, Vietnam agree to step up defence ties, dialogue between leaders Life Ozzy Osbourne, Black Sabbath's bat-biting frontman turned reality TV star, dies aged 76 Asia Malaysia govt's reform pledge tested as DAP chief bows over unresolved 2009 death of political aide Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving Indonesia also will remove recently enacted pre-shipment inspections and verifications of U.S. exports that have posed problems for U.S. agricultural exports and contributed to a growing U.S. farm trade deficit, the official said. The official, who was not authorized to speak publicly, said the agreement could help restore the surplus in agricultural goods that the United States once had with Indonesia, until it implemented the pre-shipment requirements. In a win for U.S. automakers, the official said Indonesia has agreed to accept U.S. Federal Motor Vehicle Safety Standards for vehicles exported from the United States to the growing country of 280 million people. Indonesia also has agreed to remove export restrictions on industrial commodities, including critical minerals, the joint statement said. The U.S. official said it would also remove local content requirements for products using these commodities that were shipped to the United States. The joint statement said the U.S. would reduce the reciprocal tariff rate to 19%, and "may also identify certain commodities that are not naturally available or domestically produced in the United States for a further reduction in the reciprocal tariff rate." No further details were provided. The two countries said they would negotiate rules of origin to ensure the benefits of the deal accrue mainly to the U.S. and Indonesia, not third countries. They said Indonesia would work to address barriers for U.S. goods, including through the removal of import restrictions and licensing requirements on U.S. remanufactured goods or parts. Indonesia also agreed to join the Global Forum on Steel Excess Capacity and take actions to address global excess capacity in the steel sector. REUTERS
GMA Network
22-07-2025
- Business
- GMA Network
Indonesia to cut tariffs, non-tariff barriers in US trade deal —Trump official
Indonesia will drop tariffs to zero on more than 99% of its trade with the United States and will also eliminate all non-tariff barriers for American goods in a deal that cuts threatened U.S. tariffs on Indonesian products to 19% from an initial 32%, a senior Trump administration official said on Tuesday. Indonesia will immediately drop its plans to levy tariffs on internet data flows and will support renewal of a longstanding World Trade Organization moratorium on e-commerce duties, the official told reports on a conference call held a week after the deal was first announced on July 15. Indonesia also will remove recently enacted pre-shipment inspection and verifications of U.S. exports, which have posed problems for U.S. agricultural exports and contributed to a growing U.S. farm trade deficit, the official said. In a win for U.S. automakers, the official said that Indonesia has agreed to accept U.S. Federal Motor Vehicle Safety Standards for vehicles exported from the United States to the growing country of 280 million people. Indonesia also has agreed to remove export restrictions on critical minerals and remove local content requirements products using these commodities shipped to the U.S. —Reuters
Yahoo
22-07-2025
- Business
- Yahoo
Indonesia to cut tariffs, non-tariff barriers in US trade deal, Trump official says
July 22 (Reuters) - Indonesia will drop tariffs to zero on more than 99% of its trade with the United States and will also eliminate all non-tariff barriers for American goods in a deal that cuts threatened U.S. tariffs on Indonesian products to 19% from an initial 32%, a senior Trump administration official said on Tuesday. Indonesia will immediately drop its plans to levy tariffs on internet data flows and will support renewal of a longstanding World Trade Organization moratorium on e-commerce duties, the official told reports on a conference call held a week after the deal was first announced on July 15. Indonesia also will remove recently enacted pre-shipment inspection and verifications of U.S. exports, which have posed problems for U.S. agricultural exports and contributed to a growing U.S. farm trade deficit, the official said. In a win for U.S. automakers, the official said that Indonesia has agreed to accept U.S. Federal Motor Vehicle Safety Standards for vehicles exported from the United States to the growing country of 280 million people. Indonesia also has agreed to remove export restrictions on critical minerals and remove local content requirements products using these commodities shipped to the U.S. Keywords: USA TRUMP/TARIFFS INDONESIA
