Pakistan, July 16 -- US President Donald Trump announced a major trade agreement with Indonesia, reducing proposed tariffs on Indonesian products from 32% to 19%. This deal aims to balance the US trade deficit with Indonesia, which is nearly $18 billion.

According to Reuters, the agreement includes Indonesia increasing its purchases of American airplanes, energy products, and agricultural goods. Trump highlighted that Indonesia will buy $15 billion worth of US energy products, though he did not provide specific details.

Indonesia's state energy company Pertamina signed memorandums with several US firms to improve purchases of crude oil and feedstock. The deal also explores cooperation in refinery development. Last week, reports indicate...