Trump reaches trade agreement with Indonesia

President Donald Trump announced that he has reached a trade deal with Indonesia. The Southeast Asian country will avoid facing tariffs higher than 10%, the minimum set by the White House.

"Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President," Trump said, in remarks reported by AFP.

Trump noted last week that Indonesian imports could have been slapped with a 32% tariff starting Aug. 1.

So far, the Trump administration has made deals with the U.K. and Vietnam, as well as agreeing with China to temporarily reduce so-called "reciprocal" tariffs.