Indonesia Faces Imminent 19% Tariff on Goods to the U.S.

Indonesia's chief economic minister announced a potential 19% tariff on Indonesian goods entering the U.S. This tariff might be enacted sooner than the initial deadline, contingent on a joint statement by both nations following a recent trade deal that reduced the proposed rate from 32% to 19%.

In a recent announcement, Indonesia's chief economic minister, Airlangga Hartarto, revealed the possibility of a 19% tariff being imposed on Indonesian goods entering the United States sooner than expected. This comes in light of a deadline initially set for August 1 by President Donald Trump.

Hartarto indicated that the timing hinges on an awaited joint statement between the countries. This follows a trade agreement struck last week, which resulted in lowering the previously threatened U.S. tariff from 32% down to 19%.

This recent accord represents one of the few successful negotiations conducted by the Trump administration ahead of the upcoming August 1 negotiation deadline with multiple international partners.

(With inputs from agencies.)