US to lift tariffs on Indonesian palm oil, cocoa and rubber

— editor’s note) response, but during the meeting [with the American side], in fact, the principle [of exemption from tariffs] of goods not produced in the United States, such as palm oil, cocoa and rubber, was agreed upon, <…> it will be zero or close to zero,” he said, meaning that a final agreement has not yet been reached. According to him, the timing of the agreement has not yet been determined, since representatives of the American administration are busy with trade negotiations with other countries. In early July, US President Donald Trump sent letters to the leaders of a number of countries, including Indonesia, about his intention to introduce additional tariffs from August 1. US tariffs on Indonesian goods were to be 32%. Indonesian authorities have declared their readiness to increase imports of American oil, gas and agricultural goods in the event of a reduction in trade duties. After concluding a trade deal with Jakarta, Washington reduced the tariff rate on ...