Major U.S. commodity groups are welcoming a new trade framework between the United States and Indonesia. U.S. Wheat Associates says the deal will eliminate tariffs on 99 percent of U.S. products and includes new wheat purchase commitments. Indonesia’s flour milling association has already agreed to double its annual purchases of U.S. wheat to one million metric tons for the next five years. The U.S. Meat Export Federation also applauds the announcement. USMEF President and CEO Dan Halstrom says Indonesia has significant demand for U.S. red meat, but long-standing barriers have restricted trade. The new framework addresses major issues like import licensing and plant-by-plant approvals. USMEF estimates the market potential for U.S. beef alone at 250 million dollars annually.
