Overview

• Trump wrote on Truth Social that he had struck a “great deal” with Indonesia and said that details would follow.
• The announcement came eight days after he warned of a 32% tariff on Indonesian imports set to take effect August 1.
• Indonesia dispatched its coordinating minister for economic affairs, Airlangga Hartarto, to Washington to negotiate a resolution.
• This marks Trump’s fourth interim framework announced in three months under his broader campaign of reciprocal tariff threats to more than two dozen countries.
• Markets responded modestly, with the MSCI Indonesia ETF rising 0.7% and the S&P 500 remaining largely flat.