Indonesia is set to sign a sweeping $34 billion trade and investment memorandum of understanding (MoU) with the United States, marking a major step in Jakarta’s push to secure favorable tariff terms ahead of a looming July 9 deadline.
The deal, expected to be formalized on July 7, includes significant Indonesian investments in U.S. sectors and large-scale purchases of American goods, News.Az reports, citing Bloomberg.
According to Coordinating Economic Minister Airlangga Hartarto, Indonesia will acquire $15.5 billion worth of U.S. energy products and a broad array of agricultural imports.
“This MoU reflects Indonesia’s strong commitment to deepening economic ties with the United States,” Hartarto said during a press briefing in Jakarta on Thursday.
The announcement comes as both countries seek to bolster bilateral trade relations and navigate shifting global trade dynamics. The agreement is also seen as part of Indonesia’s strategic effort to avoid steep new tariffs on its exports to the U.S., potentially offering a win-win scenario for both economies.
Further details on the breakdown of the MoU are expected to be released at the official signing ceremony in Washington, D.C.
