Mari Pangestu, Indonesia President's Special Advisor for International Trade says Indonesia will continue to negotiate with the U.S. on the details of the trade agreement and stresses that deregulation and reforms are key to Indonesia's response to the uncertainty in the world these days.

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.

European trade ministers were hopeful for a negotiated trade deal after Trump announced 30% tariffs on the European Union.

The government will execute gas and oil imports only if negotiations between Indonesia and U.S. results in lowered tariffs.