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Investing.com -- Indonesia’s chief economic minister Airlangga Hartarto said Monday that a 19% tariff on Indonesian goods entering the United States could be implemented earlier than the August 1 deadline set by U.S. President Donald Trump.
The timing of the tariff implementation depends on a joint statement expected to be issued soon between the two countries, according to Airlangga.
Indonesia and the United States reached a trade agreement last week that reduced the threatened U.S. tariff rate from 32% to 19%. This deal represents one of only a few agreements the Trump administration has secured ahead of the August 1 negotiation deadline with numerous countries.
The U.S. had initially proposed higher tariffs before the two nations reached their trade compromise.
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