President Trump announced a trade deal with Indonesia, part of his "liberation day" tariff policy. The US would impose no tariffs on Indonesian goods, while a 19% levy would apply to Indonesian imports.
This deal came as the EU pushed for its own agreement with the US, preparing retaliatory measures if talks failed. US trade with Indonesia is growing, with a trade deficit for the US. Key imports from Indonesia include palm oil and electronics.
Trump had previously threatened Jakarta with a 32% tariff. The August 1st deadline allows for negotiations to lower tariffs. Framework agreements were reached with the UK and Vietnam, and an interim deal with China.
The EU prepared tariffs on US goods if talks failed, after Trump threatened a 30% tariff on EU imports. EU officials are determined to protect their businesses.
NATO warned countries doing business with Russia could face sanctions. Trump announced new weapons for Ukraine and threatened tariffs on buyers of Russian exports. A US senator expressed concern about the 50-day delay for a peace deal.
5 Comments
Bella Ciao
Lets see economic growth and fairness. It's a good start to make this country prosper.
Muchacha
This deal shows the president's poor understanding of how global trade works.
Mariposa
The EU has every right to retaliate. Trump's trade policies are unpredictable and harm our relationships.
Fuerza
A 19% tariff on Indonesian imports? Is this supposed to be a joke? It's not "dealing".
Michelangelo
The president is not afraid to shake things up and get the job done. This is a win.