Trump's Tariff Tactics: A New Deal with Indonesia and Global Ripple Effects
President Trump announced a 19% tariff on Indonesian goods, part of his strategy to shrink the U.S. trade deficit. The accord is similar to recent deals with Vietnam and includes penalties for transshipments. Meanwhile, the EU and other nations negotiate as they face looming tariff threats.
On Tuesday, President Donald Trump revealed a 19% import tariff on goods from Indonesia, marking a fresh chapter in his ongoing push for advantageous trade terms. This announcement came as part of new negotiations with Southeast Asia aimed at addressing the substantial U.S. trade deficit.
As the August 1 deadline nears, applause or concern grows among international trading partners wary of increased levies beyond the current 10%. Trump's policies have ignited economic uncertainty, threatening long-standing global trade agreements and sparking market fluctuations.
Despite the geopolitical tension, the Trump administration confirms a $15 billion energy deal and other substantial agreements with Indonesia. As the EU prepares for potential retaliation, the diplomatic chess game continues with Trump hinting at similar negotiations with India and others.
(With inputs from agencies.)
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