Trump Tariffs Once Viewed as Punitive Win Market Approval

President Trump tells reporters that the US “made a terrific deal” with Indonesia.Source: Other

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By Abhishek Vishnoi and Prima Wirayani

July 16, 2025 at 7:53 AM UTC

Updated on

July 16, 2025 at 9:36 AM UTC

Financial markets greeted US President Donald Trump’s tariff deal with Indonesia with little fanfare Wednesday, signaling the rate of around 20% that was once viewed as punitive is now seen as workable.

Stocks and other assets were mixed in Asia after Trump announced a 19% tariff for Indonesian goods. Shares in the Southeast Asian nation ticked higher on optimism the new levy was at least lower than the 32% originally threatened by the president. Vietnam’s shares have risen since Trump in early July said he reached a trade deal with the nation.