He also unveiled a new trade deal with Indonesia, including a 19-per cent tariff on all Indonesian goods entering the United States. American exports will enjoy full access to Indonesia’s markets, devoid of tariffs and trade barriers. The deal replaces a 32-per cent tariff on Indonesian imports proposed earlier.
Trump also said the United States is close to finalising a trade deal with India.
“We’ll probably set one tariff for all of them [the smaller nations],” Trump told reporters.
US commerce secretary Howard Lutnick said the plan would focus on nations that generally engage in a modest level of trade with the United States and their contribution in trade balances are relatively insignificant, when addressing the aim of reducing trade imbalance with the rest of the world, according to US media reports.
ALCHEMPro News Desk (DS)
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