Indonesia says US trade deal reached
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The decision by Bank Indonesia to cut rates comes amid news of a trade deal with the U.S. that could ease the tariff overhang on the economy.
Indonesia's central bank delivered on Wednesday its fourth rate cut in an easing cycle that began in September, boosting support for Southeast Asia's biggest economy as it faces pressure from weakening global trade and slowing domestic demand.
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.
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US President Donald Trump said he has settled on another tariff deal - this time with Indonesia. Trump said he had agreed to lower tariffs he had threatened on goods entering the US from Indonesia to 19%, in exchange for what he called "full access" for American firms.
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.
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Heritage Foundation research fellow EJ Antoni on the impact new energy investment will have on inflation and the White House's trade agreement with Indonesia.
The team assess the tour to Indonesia and hear from Oxford United's manager and CEO.
U.S. President Donald Trump said Tuesday that a trade deal with Indonesia was reached to set 19% tariffs on its U.S. exports.
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