Published: 10:22pm, 15 Jul 2025Updated: 1:38am, 16 Jul 2025
US President Donald Trump said on Tuesday that his administration had reached a trade deal with Indonesia, without offering any details about the terms, scope, or timeline, while his Treasury Department chief cut Beijing some slack on the deadline for a final deal with China.
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“Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!” Trump said in a social media post.
A deal between the US and Southeast Asia’s most populous country would suggest significant progress in the span of a few days. Last week, Trump sent a letter to Indonesian President Prabowo Subianto, threatening to hit imports from the country with a 32 per cent tariff rate, effective on August 1.
Such a development would also have implications for growing competition between Beijing and Washington for influence in the region, particularly since China is Indonesia’s largest trading partner.
Speaking about his trade talks with China in a Bloomberg interview later on Tuesday, Treasury Secretary Scott Bessent said investors should not worry about an approaching deadline on that front.
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“I tell market participants not to worry about August 12,” Bessent said, in reference to the end of a 90-day tariff ceasefire between the two economic superpowers that was announced on May 12, following his talks with Chinese Vice-Premier He Lifeng.