00:00The US and Indonesia will sign trade and investment deals worth $34 billion
00:05as part of ongoing trade negotiations ahead of a July 9 deadline.
00:11Indonesia's Economic Minister, Ayelanga Hartarto, said a memorandum of understanding
00:15will be signed on July 7, though it doesn't mean the end of talks.
00:21Under the MOU, Hartarto said Indonesia would invest in the US,
00:25purchase American agricultural goods, and import $15.5 billion worth of energy products.
00:32He added that the deal involved the Sovereign Wealth Fund, Danantara, and private firms.
00:36Indonesia faces a 32% US tariff and had previously offered to increase imports from the US
00:42to help move talks forward.
00:44In 2024, Indonesia recorded a $17.9 billion goods trade surplus with the US.
00:51Ayelanga said Indonesia hoped to secure a more favourable trade deal than Vietnam
00:56by addressing its trade imbalance with Washington.
00:59This came after the US announced a reduced 20% tariff on many Vietnamese exports,
01:04lower than the 46% rate initially proposed in April.
