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Indonesia, US finalise bilateral trade agreement

Under the terms of the agreement, first announced in July last year, the US will impose a 19% tariff on goods imported from Indonesia. Previously, the Southeast Asian nation had faced the prospect of tariffs of up to 32%.

Hanoi (VNA) – The White House announced on February 19 that the US and Indonesia have officially concluded a bilateral trade agreement, setting reciprocal tariff rates and non-tariff barriers on goods traded between the two countries.

Under the terms of the agreement, first announced in July last year, the US will impose a 19% tariff on goods imported from Indonesia. Previously, the Southeast Asian nation had faced the prospect of tariffs of up to 32%.

In return, Indonesia has pledged to waive local content requirements for US companies, while addressing and preventing barriers affecting US agricultural exports to the country.

The two countries also commend the reached massive commercial deals of approximately 33 billion USD worth of investment in agriculture, aerospace, and energy in the US, further increasing US exports to Indonesia./.

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