Indonesia, U.S.: 19% Tariff Deal Includes Third Country 'Poison Pill' Safeguard

Indonesian President Prabowo Subianto signed the Agreement on Reciprocal Trade with the United States, lowering U.S. tariffs on most Indonesian exports from a threatened 32% to 19% in exchange for Indonesia eliminating tariffs on roughly 99% of U.S. exports and easing nontariff barriers such as import licensing and local content rules, according to a readout from the Office of the United States Trade Representative published Feb. 20....