Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Donald Trump has announced that Indonesia will pay a 19 per cent tariff on exports to the US after Washington and Jakarta agreed a trade deal.
The US president said he had spoken to his Indonesian counterpart Prabowo Subianto, and that the deal with Jakarta will give the US “full access to Indonesia, everything”.
Trump said Indonesia was “very strong on copper”, the metal on which he last week imposed a 50 per cent levy, and was also in possession of “some very valuable” critical minerals.
“We have a couple of those deals that are going to be announced,” Trump told reporters on Tuesday. He said a deal with India was “working along that same line”.
Indonesia’s deal is the first with more than 20 trading partners who last week received letters from Trump telling them of the tariffs they would pay on goods exported to the US.
The president threatened to impose a 32 per cent levy on Jakarta in last week’s letter.
The US has also reached trade deals with the UK, China and Vietnam.
“Indonesia has some great products, and they also have some very valuable earths and various other materials. One of the things that you know they are known for is very high-quality copper, which we will be using,” Trump said.
This is a developing story
#Donald #Trump #announces #trade #deal #Indonesia
