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Indonesia, U.S. Settle Tariff Deal Hurdles, Eye Leaders’ Signing in January

Indonesian officials say Washington talks resolved the last sticking points, clearing the way for a leaders’ signing next month.

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The US is one of Indonesia’s top trading partners, contributing the largest non-oil and gas trade surplus of $17 billion last year, according to official data.
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Overview

  • Senior Economic Minister Airlangga Hartarto said all substantial issues were resolved after a meeting with U.S. Trade Representative Jamieson Greer in Washington.
  • The United States has agreed, according to Indonesia’s negotiator, to exempt tariffs on palm oil, coffee and tea, a key win for a top global palm oil exporter.
  • Hartarto said the U.S. sought access to Indonesia’s critical minerals as part of the agreement.
  • Indonesia’s Prabowo Subianto and U.S. President Donald Trump could sign the deal in late January, though the agreement has not yet been formally executed.
  • A July framework envisioned Indonesia scrapping tariffs on more than 99% of U.S. goods and buying about $19 billion in American products, including 50 Boeing jets.