President Donald Trump said Tuesday the United States has reached a trade deal with Indonesia and is close to getting access to India as a result of his high tariff policy.
As part of the deal, Indonesia will pay 19% tariff on its exports to the United States.
Trump asked Indonesia not to levy any tariffs on American exports.
Indonesia will purchase $15 Billion Dollars in U.S. Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets, many of them 777’s, Trump said.
Indonesia exported $20 million worth of copper to the United States last year, while its total shipments to the U.S. were $28 billion.
The United States exported goods worth $10 billion to Indonesia last year.
The deal with Jakarta is one of the few deals Trump has reached with countries since introducing reciprocal tariffs on imports from countries as part of his policy to fix trade imbalance. Earlier, he had announced a deal with Vietnam, one of the largest textile exporters to the United States.
“This morning I finalized an important Deal with the Republic of Indonesia after speaking with their Highly Respected President Prabowo Subianto. This landmark Deal opens up Indonesia’s ENTIRE MARKET to the United States for the first time in History.”
Trump later spoke about progress toward striking a deal with India, saying New Delhi is working on the same lines as Indonesia has done.
“India is basically working along that same line. We’re going to have access into India,” he noted.
Trump warns countries aligning with BRICS of extra 10% tariffs
Trump said it is unprecedented that the U.S. is going to have market access to other countries and credited his tariff policy for this success.
“You have to understand, we had no access to any of these countries. Our people couldn’t go in, and now we’re getting access because of what we’re doing with the tariffs…”
Pakistan, which is facing a 29% U.S. tariff on its goods, is also among the countries negotiating a trade deal with the United States.
In April, Trump announced a 10% base tariff on all imports into the country and also unveiled reciprocal tariffs on countries as part of his America First policy that seeks to boost American manufacturing and fix trade practices that he says have been unfair to the United States.
Trump last week announced a 30% tariff on imports from the European Union countries and Mexico, if they fail to reach a trade deal with the United States before August 1.
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