Donald Trump announced he has reached a trade deal with Indonesia.
No details were given at this time.
Great deal, for everybody, just made with Indonesia. I dealt directly with with their highly respected President. DETAILS TO FOLLOW!!!
Trump previously threatened the country with a 32% tariff rate.
Trump had threatened the southeast Asian country with a 32% tariff rate effective August 1 in a letter sent to its president last week.
Trump sent similar letters to roughly two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% up to 50%, as well as a 50% tariff on copper.
The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Trump’s pattern of backing off his tariff threats.
Trump’s strategy is working!
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Author: S
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