EU, Indonesia Ink Trade Deal After Years of Talk

Indonesia and the European Union have signed a long-awaited trade deal that comes as Asian countries reposition themselves in a landscape reshaped by U.S. tariffs.

The pact, which Jakarta and the EU have been negotiating for over nine years, was inked Tuesday during European Commissioner for Trade & Economic Security Maroš Šefčovič's visit to Indonesia.

"This agreement eliminates over 98% of tariffs, removing nearly all barriers to trade and opening new pathways for investment," the European official said.

That will benefit labor-intensive sectors such as footwear, textiles, garments, palm oil, fisheries, renewable energy and electric vehicles, said Haryo Limanseto, a spokesperson for Indonesia's ministry of economic affairs...

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