Trump, Prabowo Finalize Landmark Trade Deal: Tariffs Slashed to 19%

• President Donald Trump and Indonesian President Prabowo Subianto finalized a trade agreement, reducing US tariffs on Indonesian goods to 19% from a threatened 32%.
• The deal aims to expand US access to Indonesia's consumer market and facilitate Indonesia's purchase of an estimated $33 billion in American goods.
• Indonesia will eliminate levies on over 99% of US goods, remove non-tariff barriers, and is expected to import $15 billion in US energy, $13.5 billion in commercial aircraft, and $4.5 billion in agricultural commodities.
• The agreement also eliminates heightened duties on Indonesian exports like palm oil, spices, and pharmaceuticals, and creates tariff exemptions for textiles and apparel.
• Beyond tariffs, the pact addresses critical minerals, with Indonesia allowing US companies similar extraction terms as domestic investors, and the US considering investment financing.