The Trump administration expects that Indonesia’s decision to bring down trade barriers will result in at least $50 billion in additional market access for US goods.

Indonesia's chief economic minister Airlangga Hartarto said on Monday that a 19% tariff on Indonesian goods entering the United States could come into effect sooner than an August 1 deadline set by U.

Indonesia secured a trade deal with the United States on July 16, which, at first glance, looks like a lifeline, as it locks in a maximum 19 percent tariff on Indonesian exports to the US through 2029. The deal was struck at a time of intensifying US protectionism, and offers what appears to be a temporary shield to Indonesia.

The US tariff deal with Indonesia is set to ease critical mineral export restrictions from the Southeast Asian country to the US, the White House said Tuesday.

Indonesian sovereign wealth fund Danantara plans to sign an $8 billion engineering, procurement and construction contract with U.S. engineering firm KBR Inc to build 17 modular refineries, according to two sources familiar with the matter and an official economic ministry presentation seen by Reuters.