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View all search resultsThe tariff order comes amid heightened tensions between Washington and Tehran, with an American naval group led by an aircraft carrier in Middle Eastern waters and indirect talks held on Tehran's nuclear program in Oman on Friday.
Coordinating Economy Minister Airlangga Hartarto says all negotiation points on a tariff deal with the United States have been agreed between the two sides, and all that is left is signing by the respective presidents, pending scheduling.
President Donald Trump on Tuesday said the United States and South Korea will work out a solution when asked about his surprise Monday announcement that he would increase tariffs on imports from the Asian ally to 25 percent.
Asian equities stabilized Wednesday after a rough start to the week fueled by Donald Trump's Greenland-linked tariff threats. Tokyo, Sydney, Singapore, Taipei and Manila fell, while Hong Kong, Shanghai and Jakarta rose.
For Indonesia, which is deeply embedded in East Asian production networks and heavily exposed to Chinese trade and investment, a reciprocal trade agreement with the US could trigger chaotic and costly supply chain realignments.
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