For the first time, the United States will have full access to Indonesian markets, tariff-free. It comes after a trade agreement between officials there and President Donald Trump.
Pres. Trump says the landmark deal includes a promise from Indonesia to buy $15 billion in energy, $4.5 billion in U.S. ag exports, and 50 Boeing airliners.
In return, the United States will have full market access, but Indonesia will still be required to pay a 19% tariff on exports to the U.S.
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Energy costs remain elevated for farms and rural households even as broader U.S. inflation shows signs of easing.
U.S. distillate inventories remain 12 percent below the five-year average as fall harvest approaches.
The initiative can also introduce U.S. wheat to new potential customers, creating relationships that may continue even after food aid programs end.
