The United States and Indonesia have reached a major trade agreement that will eliminate tariffs on over 99% of US goods exported to Indonesia and remove nearly all non-tariff barriers.
In return, the US will impose a 19% tariff on Indonesian goods, down from a previously threatened 32%. The deal is expected to open at least $50 billion in new market access for US commodities and streamline exports of critical minerals from Indonesia. Indonesia has also agreed to lift export restrictions on key minerals and make significant purchases from US companies, including Boeing jets.
While hailed as a win for American businesses, some observers warn the agreement could impact Indonesia's energy transition goals and has sparked concerns about imbalanced trade terms.
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