President Trump has flagged that US tariffs on pharmaceutical imports are likely to kick in on Aug. 1, with duties on semiconductors also in line for implementation then too. “Probably at the end of the month,

Donald Trump said the US had reached a trade deal with Indonesia that would result in goods from the south-east Asian nation to the US being hit with a 19 per cent tariff and Jakarta buying American energy and Boeing jets.

Indonesia's president said U.S. counterpart Donald Trump was a "tough negotiator" after the two countries reached a trade deal that led to a reduction of proposed tariff rates to 19% from 32%.