Indonesia sees securing a 19% tariff rate with the US as a “huge win” for some of the Southeast Asian nation’s most labor-intensive sectors such as garments and footwear, a government adviser said Wednesday.

Trade Minister Budi Santoso stated that Indonesia faces the lowest United States (US) import tariff among Southeast Asian (ASEAN) countries. “In

Trump wants an India trade deal mirroring the Indonesia pact, granting the US full market access in exchange for limited concessions. India seeks balanced terms, resisting pressure for quick deals.

Indonesia's central bank cut rates on Wednesday for the fourth time since September and said a revised tariff deal with the United States was positive for Southeast Asia's biggest economy amid weakening global trade and slowing domestic demand.