Jakarta, Oct. 9 -- Indonesia and the United States are finalizing a reciprocal tariff agreement after approvals from President Prabowo Subianto and US President Donald Trump, Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto said Thursday.

Airlangga said legal drafting of the agreement is underway, with hopes for a swift completion.

"We expect this stage to be completed soon," he said in Jakarta.

The tariff exemptions will mainly apply to commodities that Indonesia can produce but the US cannot, and vice versa. Examples include palm oil, cocoa, and chocolate, which will face zero tariffs.

Initially, the US imposed a 32 percent import tariff on Indonesian goods, but after negotiations, including a phone call bet...