President Donald Trump revealed Tuesday the U.S. and Indonesia have agreed to a trade agreement.
Trump said in a TruthSocial post that he “finalized an important Deal with the Republic of Indonesia after speaking with their Highly Respected President Prabowo Subianto” in the morning.
He described it as a “landmark Deal” that “opens up Indonesia’s ENTIRE MARKET to the United States for the first time in History.”
While talking with reporters on the White House grounds, Trump said Indonesia will pay a 19% tariff while the U.S. is “going to pay nothing.”
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“I think it’s a good deal for both parties,” he said.
He noted the country “has some great products” and “have some very valuable earths and various other materials.”
“One of the things they’re known for is very high-quality copper, which we’ll be using,” he added.
The trade agreement with Indonesia includes the country committing to buy certain products from the U.S., Trump said in his TruthSocial post.
According to Trump, Indonesia will buy $15 billion worth of U.S. energy, $4.5 billion of American agricultural products and dozens of Boeing planes.
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“Thank you to the People of Indonesia for your friendship and commitment to balancing our Trade Deficit,” he wrote. “We will keep DELIVERING for the American People, and the People of Indonesia!”
Indonesia was one of the many countries that the Trump administration hit with reciprocal tariffs back in early April before the president subsequently announced a 90-day pause with a 10% duty instead. Under the reciprocal tariffs, the country faced a 32% levy.
When announcing the reciprocal tariffs, Trump had called it “one of the most important days, in my opinion, in American history” and a “declaration of economic independence.”
The Trump administration has been looking to push countries to make deals before the beginning of August, when reciprocal tariffs are slated to go back into force.
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