Indonesia is ready to pump $34 billion into U.S. energy and agriculture projects—plus a possible 75‑jet Garuda order—to head off steep tariffs.
Jakarta will sign a memorandum of understanding worth $34 billion next week to boost Indonesian purchases and investments in the United States, Chief Economic Minister Airlangga Hartarto said.
"This shows that government, regulators, state-owned enterprises and the private sector are together in responding to the imposition of U.S. reciprocal tariffs," Airlangga noted.
The package covers extra fuel imports and new Indonesian investment in U.S. energy and agriculture, part of efforts to ease a looming 32% tariff on Indonesian goods.
Flag carrier Garuda Indonesia is separately negotiating to buy up to 75 Boeing aircraft.
Indonesia ran a $17.9 billion goods‑trade surplus with the United States in 2024; narrowing that gap, Airlangga noted, could win Jakarta a tariff deal "better than Vietnam’s."
The accord will be signed on 7 July, demonstrating, he said, that government, state firms and private business "stand together" against U.S. duties.
Garuda, still recovering from the pandemic, recently secured a $405 million sovereign‑wealth‑fund loan for fleet upkeep.
Shipping traffic through the key Gulf waterways of Bab el-Mandeb and the Strait of Hormuz remained largely unchanged at the start of the week, shippin...
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U.S. President Donald Trump says Iran has a "last chance" to sign what he described as "a good document", claiming talks are continuing at Tehran's request with backing from Saudi Arabia, the UAE and Qatar.
U.S. President Donald Trump said late on Saturday he would hold off on a fresh attack on Iran as long as a deal could be reached quickly to halt Iran's nuclear ambitions and reopen the Strait of Hormuz.
Two firefighting helicopters collided while battling a major wildfire in Greece on Sunday, killing two crew members as emergency services continued efforts to contain fires fuelled by extreme heat and dry conditions across Europe.
French Prime Minister Sebastien Lecornu said wildfires that swept across France were now under control. Authorities warned that risks remained as Greece and Spain continued battling active blazes across parts of Europe.
Indonesian rescue teams are searching for 28 people still unaccounted for, three days after a passenger ferry caught fire off the coast of Madura island.
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South Korean President Lee Jae Myung urged authorities to increase support for people affected by a record heatwave, as the death toll reached 16.
The United States State Department is planning to close five diplomatic missions overseas in an uncommon reduction of its global diplomatic network, according to people familiar with a notice sent to Congress.
Morocco has blamed a recent Spanish court ruling for last week's mass migrant crossings into the Spanish enclave of Ceuta, arguing that the decision weakened a key deterrent against irregular migration and was quickly exploited by people-smuggling networks.
A coalition of 25 US states has launched a legal challenge against the Trump administration, arguing that its latest attempt to impose sweeping tariffs on imports from around the world exceeds presidential powers and risks pushing up prices for American consumers.
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