Trump claims trade deal struck with Indonesia; Bessent says China deal timeline ‘flexible’

US President Donald Trump said on Tuesday that his administration had reached a trade deal with Indonesia, while his Treasury Department chief cut Beijing some slack on the deadline for a final deal with China.

Speaking to reporters at the White House on Tuesday, Trump said Indonesia would charge no tariffs on imports from the US, while imports from the southeast Asian country to America would be subject to a 19 per cent levy.

“They are going to pay 19 per cent and we are going to pay nothing … we will have full access into Indonesia, and we have a couple of those deals that are going to be announced,” Trump said.

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. Details on the deal’s scope and implementation timeline were not revealed.

“Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!” Trump said on social media earlier in the day.

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.