Indonesia will pay a 19% tariff on U.S. imports as part of a trade deal struck between it and the United States, according to President Donald Trump. Trump told reporters as he was departing the White House for Pittsburgh on Tuesday that U.

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.

Indonesia’s president said he struck a 19% tariff deal with US President Donald Trump, the first confirmation of the key agreement detail after months of talks between the countries.

President Donald Trump has been sending letters to countries outlining higher tariffs they’ll face if they don’t make trade deals with the U.S. by Aug. 1.

Economists and investors urge Bank Indonesia (BI) to lower interest rates to boost the economy, citing new U.S. import tariffs.