Trump says he’s reached a trade agreement with Indonesia
Trump says he’s reached a trade agreement with Indonesia
The US buys more from the EU than any other country, but tariffs on all 27 member nations could mean prices on everything from French cheese to Italian leather, German electronics, and Spanish pharmaceuticals, as well as medicine and vehicles. Negotiations are ongoing, but if these tariffs go through, the EU says it will retaliate. That could impact with the US exports over to Europe, including things like crude oil, pharmaceuticals, aircraft, auto. Mobiles and medical equipment. Meanwhile, Mexico is the 2nd largest exporter and importer of US goods. The most traded items are vehicles, electrical machinery, medical devices as well. Agriculture makes up about 10% of US imports from Mexico. That includes veggies, fruit, beer, as well as liquor. And in his letter, President Trump said part of the reason for the new tariff was to get Mexico to do more to stop the flow of migrants. And fentanyl to the US and staying in Mexico, another policy kicks in today hiking tomato import taxes 21%. The administration argues ending this decades old trade agreement will drive down prices, but opponents say otherwise. That's because Mexico supplies about 70% of the US tomato market with some 4 billion pounds of tomatoes each year. Advocates say that the tax will encourage domestic tomato growing. The administration though believes Mexican farmers have purposely sold tomatoes for less than what they cost to grow in order to increase their sales. Mexico threatened to tax American pork and chicken in return. Reporting in Washington, I'm Amy Lou.
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Trump says he’s reached a trade agreement with Indonesia
President Donald Trump said Tuesday the United States has reached a trade agreement with Indonesia, but he offered no details, including how comprehensive a deal might be, any possible terms or when any provisions might take effect.“Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President,” Trump wrote on his social media platform. “DETAILS TO FOLLOW!!!”This marks Trump’s fourth trade agreement announcement in three months.One of the four agreements he previously announced was with Vietnam earlier this month, similarly posting on Truth Social. But the administration has not announced any more information on that agreement.
WASHINGTON —
President Donald Trump said Tuesday the United States has reached a trade agreement with Indonesia, but he offered no details, including how comprehensive a deal might be, any possible terms or when any provisions might take effect.
“Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President,” Trump wrote on his social media platform. “DETAILS TO FOLLOW!!!”
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This marks Trump’s fourth trade agreement announcement in three months.
One of the four agreements he previously announced was with Vietnam earlier this month, similarly posting on Truth Social. But the administration has not announced any more information on that agreement.