US-Indonesia deal cuts tariffs, eases critical mineral export limits ...Middle East

The deal, described as a “huge win” by former President Donald Trump, reduces US tariffs on Indonesian goods from 32% to 19%.

“Indonesia will supply the United States with their precious Critical Minerals,“ Trump stated on his Truth Social platform. The Southeast Asian nation is a major producer of copper, cobalt, and nickel, essential for manufacturing and renewable energy sectors.

Additionally, Indonesia will lift export restrictions on industrial commodities, including critical minerals.

The country will further streamline imports by removing pre-shipment inspection requirements for US goods and accepting US motor vehicle safety standards.

This agreement follows similar pacts with Britain, Vietnam, and the Philippines, as the US seeks to rebalance trade relations ahead of an August 1 tariff deadline. - AFP

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