Trump's New Tariff Strategy: U.S.-Indonesia Trade Pact Unveiled
U.S. President Donald Trump announced a 19% tariff on Indonesian goods as part of a new trade agreement, aiming to mitigate the U.S. trade deficit. The agreement maintains tariffs on U.S. imports while eliminating them on exports. This deal follows similar agreements with Vietnam as the U.S. continues negotiating with other countries like India and EU.
U.S. President Donald Trump declared a new 19% tariff on imports from Indonesia, unveiling a major trade agreement intended to correct perceived trade imbalances.
The pact positions tariffs on U.S. imports from Indonesia while clearing the way for American exports, a strategy akin to recent arrangements with Vietnam. Further trade negotiations are ongoing with key partners like the European Union and India.
The EU threatened reciprocal tariffs on U.S. products if talks fail, underscoring the fraught nature of current international trade relations. Trump's broader tariff strategy includes imposing unilateral tariffs on multiple trading partners, with unresolved talks extending only temporary reprieves.
(With inputs from agencies.)
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