Strengthening Ties: $7 Billion Deals Inked Ahead of Prabowo-Trump Trade Pact

On Wednesday, Indonesian and U.S. companies signed deals exceeding $7 billion prior to President Prabowo's scheduled meeting with President Trump. The agreements involve substantial purchases of U.S. agricultural products and critical minerals. Notably, Freeport-McMoRan secured an extension to its mining permit with Indonesia.

Significant economic strides occurred on Wednesday as Indonesian and U.S. companies signed agreements worth over $7 billion on the eve of a pivotal meeting between Indonesian President Prabowo Subianto and U.S. President Donald Trump. The deals were part of a broader effort to reinforce trade ties between the two nations.

The agreements encompass major purchases by Indonesian firms, including 1 million metric tons of U.S. soybeans, 1.6 million tons of corn, and 93,000 tons of cotton. Additionally, a memorandum of understanding has been reached between the U.S. mining group Freeport-McMoRan and Indonesia's Ministry of Investment regarding critical minerals cooperation.

Freeport-McMoRan has secured an extension on its mining permit beyond 2041, while other agreements focus on semiconductor ventures and oilfield recovery. The developments are poised to deepen economic, investment, and trade ties as outlined by U.S. Trade Representative Rick Switzer.

(With inputs from agencies.)