Trump announces trade deal with Indonesia, 19% tariff
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Indonesia sees securing a 19% tariff rate with the US as a “huge win” for some of the Southeast Asian nation’s most labor-intensive sectors such as garments and footwear, a government adviser said Wednesday.
A group of U.S. solar panel manufacturers asked the Commerce Department to impose anti-dumping and countervailing duties on imports from Indonesia, India and Laos, according to documents on an agency web site.
The United States recent tariff announcements have cut down forecast for Southeast Asian economies, with the more export-dependent countries seen to be more vulnerable, a regional webinar heard Thursday.
A group of U.S. solar panel manufacturers asked the Commerce Department to impose anti-dumping and countervailing duties on imports from Indonesia, India and Laos, according to documents on an agency we site.
U.S. Commerce Secretary Howard Lutnick said Tuesday on CNBC that there will be no tariffs on U.S. goods in Indonesia while Indonesia will pay tariffs in the United States.
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Indonesia is leveraging a potential $10 billion oil and fuel import deal to pressure the U.S. into lowering steep tariffs on Indonesian goods.
Indonesia's central bank cut rates on Wednesday for the fourth time since September and said a revised tariff deal with the United States was positive for Southeast Asia's biggest economy amid weakening global trade and slowing domestic demand.