Framework for United States-Indonesia agreement on reciprocal trade
Indonesia will eliminate 99% of tariff barriers; United States will reduce reciprocal tariffs to 19%.
The White House today announced that the United States and Indonesia have agreed on a framework to negotiate an agreement on reciprocal trade.
As explained in the White House release, key terms include Indonesia eliminating over 99% of tariff barriers on U.S. exports across various sectors, while the United States will reduce reciprocal tariffs on Indonesian goods to 19%.
According to a White House fact sheet, the U.S.-Indonesia Agreement on Reciprocal Trade will address:
- Tariff barriers
- Non-tariff barriers for U.S. industrial and agriculture exports
- Rules of origin
- Digital trade
- Economic security
- Labor standards
- Commercial deals