Indonesia is the second ASEAN nation to strike a tariff deal after US President Donald Trump's ultimatum to a list of countries. Whether it's a good deal for Jakarta depends on who you ask.

President Donald Trump said Tuesday the United States has reached a trade agreement with Indonesia after speaking with the country’s President Prabowo Subianto.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

U.S. President Donald Trump on Tuesday announced a trade deal with Indonesia, the latest pact in a bid to cement better terms with trading partners and reduce a massive trade deficit, even as the European Union readied retaliatory measures should talks between Washington and its top trading partner fail.

Indonesia’s recent agreements with the Western superpower and the European bloc could set the path for other nations seeking similar arrangements. But experts warn against potential pitfalls and sacrificing domestic interests.

Five months after a Boeing Co. 737 Max aircraft operated by Lion Air crashed into the Java Sea in 2018, Indonesian flag carrier PT Garuda Indonesia tried to cancel its remaining order for the same model.

JAKARTA: Indonesia's central bank cut rates on Wednesday (Jul 16) 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.

Ursula von der Leyen and Prabowo Subianto announced a "political agreement" to finalize a free trade deal amidst global trade disruptions. The agreement, under negotiation since 2016, aims to boost trade and investment between the EU and Indonesia.