Indonesia trade agreement eliminates tariffs on American exports while securing commitments to protect labor rights and purchase Boeing aircraft and farm products.

Indonesia will remove tariffs on over 99% of US goods, and the US will cut tariffs on Indonesian imports from 32% to 19%.

Imports to the U.S. from the Philippines will have a 19% tariff rate, Trump posted on social media Tuesday afternoon. That is one percentage point less than the 20% rate Trump unilaterally imposed on goods from the Philippines in early July. But it’s still higher than the April 2 rate of 17%.

The Trump administration expects that Indonesia’s decision to bring down trade barriers will result in at least $50 billion in additional market access for US goods.

The new US tariffs could hurt the Philippine economy more than Indonesia’s, even though both face a 19-percent import tax, as Manila’s earlier edge may have been erased by President Donald Trump’s higher-than-expected tariff announcement.

FOX Business' Charles Payne joins 'Fox & Friends' to break down President Donald Trump's latest trade deals with Japan, Indonesia and the Philippines.

President Trump has increased US tariffs to a range of 15% to 50%, urging countries to secure trade deals by August 1st. Japan, the Philippines, and Indonesia have already made agreements, while the EU,

U.S. President Donald Trump said on Monday that he had instructed his trade team to resume negotiations on trade with Thailand and Cambodia after the two nations agreed to a ceasefire. "Just spoke to the Acting Prime Minister of Thailand and Prime Minister of Cambodia,