Indonesian and US companies signed trade deals worth more than $7 billion a day before President Prabowo Subianto met with President Donald Trump.
The deal was announced by the US-ASEAN Business Council (USABC) and includes food purchases and strategic sector cooperation.
Indonesia agreed to buy 1 million metric tons of US soybeans, 1.6 million tons of corn, and 93,000 tons of cotton, with an additional 1 million tons of wheat this year and up to 5 million tons by 2030.
Other purchases include $200 million worth of US used clothing for recycling. Indonesia's previous import averages show the country buying around 2.3 million tons of soybeans, 800,000 tons of wheat, 180,000 tons of cotton, and less than 100,000 tons of corn annually.
In addition to agriculture, the agreements include a Freeport-McMoRan strategic partnership that signed a mining permit extension agreement until 2041 with the Indonesian Ministry of Investment, while Pertamina is working with Halliburton on oilfield rehabilitation.
Two semiconductor joint ventures were also announced, including a $4.89 billion project between Essence Global Group and an Indonesian partner.
The USABC is evaluating agricultural purchases such as $685 million in soybeans, $1.25 billion in wheat, $122 million in cotton, and $200 million in used clothing. Several other deals involve U.S. lumber and furniture products, with no value specified.
The agreement is an early implementation of a major U.S.-Indonesia trade pact scheduled to be signed on Thursday. It is expected to reduce Indonesia’s trade surplus with the U.S. and strengthen bilateral economic ties going forward.
