President Trump has announced a U.S.-Indonesia trade deal just one week after he threatened to impose a 32% tariff on the country on August 1.
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Forget margin or options. Here's how the pros trade QQQ“Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!” said Trump in a Truth Social post on Tuesday.
The specific details of the deal have not yet been announced.
U.S. and Indonesia Clinch Trade Deal
On Monday, the U.S. agreed to delay its 32% tariff on Indonesia, signaling that negotiations were making progress. Indonesia’s top exports to the U.S. include apparel, footwear, and electronics.
In 2024, the U.S. exported $10.2 billion of goods to Indonesia and imported $28.1 billion of goods from the country, resulting in a U.S. goods trade deficit of $17.9 billion.
According to TipRanks’ Trump Dashboard, the iShares MSCI Indonesia ETF (EIDO) will likely be affected by Trump’s announcement.
