U.S. and Indonesia Forge Historic Trade Agreement
The United States and Indonesia have finalized a groundbreaking trade deal, eliminating most tariffs and non-tariff barriers. This agreement will enhance market access and strengthen economic relations between both countries. It includes measures on data flows, agricultural exports, and industrial commodities, benefiting numerous sectors in both nations.
In a significant development, the United States and Indonesia have reached a landmark trade agreement aimed at fostering stronger economic ties and enhancing market access. Announced jointly, the deal will see Indonesia eliminate tariffs on over 99% of U.S. goods and remove non-tariff barriers for American businesses.
President Trump praised the deal as a "huge win" for various sectors, including automakers, farmers, manufacturers, and tech companies. Under the agreement, the U.S. will lower its threatened tariffs on Indonesian products. The bilateral arrangement is set to boost export opportunities for both nations while reinforcing economic collaboration.
The accord addresses several key issues, such as tariff reductions on internet data flows, e-commerce duties, and pre-shipment inspections affecting U.S. agriculture. Indonesia's agreement to accept U.S. vehicle safety standards and remove export restrictions on critical minerals is particularly noteworthy. These steps are expected to bring mutual economic benefits and support various industries.
(With inputs from agencies.)
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