Indonesia sees securing a 19% tariff rate with the US as a “huge win” for some of the Southeast Asian nation’s most labor-intensive sectors such as garments and footwear, a government adviser said Wednesday.

The Penang chief minister calls for 'creative and effective negotiation strategies' to bring down the tariff rate on Malaysia by half.

President Trump said the agreement would partly walk back some of the steep tariffs he threatened on the country last week. Indonesia’s president called Mr. Trump a “tough negotiator.”

Indonesia’s president confirmed he struck a tariff deal with the US after direct negotiations with President Donald Trump accelerated months of talks between officials of both countries.

Indonesia's central bank cut rates on Wednesday for the fourth time since September and said a revised tariff deal with the United States was positive for Southeast Asia's biggest economy amid weakening global trade and slowing domestic demand.