The tariff deal, announced on Tuesday, reduced US tariffs from 32 percent to 19 percent, with transshipment adding the rate of the source country. Indonesia agreed to import $15 billion in energy products, $4.5 billion in agricultural items and 50 Boeing jets from the US, and eliminate any duty on US goods.

President Donald Trump on Tuesday said the U.S. would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were coming, while offering fresh details on planned duties on pharmaceuticals.

Indonesia is the second ASEAN nation to strike a tariff deal after US President Donald Trump's ultimatum to a list of countries. Whether it's a good deal for Jakarta depends on who you ask.