CNBC's Megan Cassella joins 'The Exchange' to give the latest on Trump's ongoing trade deals.

Washington

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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President Trump has revealed details of a new trade agreement with Indonesia, stating that U.S. exports will have full access to the Indonesian market without tariffs, while Indonesian imports to the United States will face a 19% tariff. This tariff is lower than the previously threatened 32% rate. The affected goods include palm oil, tires, rubber, electronics, and footwear, which collectively make up less than one percent of U.S. imports.

Trump also mentioned ongoing discussions with India for a similar agreement and confirmed that U.S. officials are in contact with their European Union counterparts about potential trade deals. Additionally, he reiterated his criticism of the Federal Reserve and commented on secondary sanctions against Russia if a ceasefire is not reached.

Trump announces 19% tariff on imports from Indonesia

Hey Kelly, so the President just spent about 15 minutes talking with reporters on the South Lawn as he's on his way to Pittsburgh this afternoon, touching on a few different topics. The biggest news here is he was elaborating a little bit on that agreement that he says he struck this morning with Indonesia for a trade deal. He says the crux of it here is that U.S. exports will be able to go into Indonesia without paying a tariff, that we'll have full access to the Indonesian market, and that Indonesian imports coming into the U.S. will pay a 19 percent tariff there. That's down from the 32 percent level he threatened in his letter to Indonesia last week. So now it will be 19 percent charge on all imports coming in from Indonesia. It's not a huge amount, less than one percent of everything the U.S. buys. Things like palm oil, though, tires, rubber, electronics, footwear, all going to be impacted here. He also said that one thing the U.S. will be buying from Indonesia was high-quality copper, which does raise some questions, given that last week he threatened 50 percent tariffs on all copper imports. You do wonder if there might be an exemption there for Indonesian copper. He also said on the trade theme that India is along the same lines as Indonesia, so suggesting, again, that some sort of an agreement with India is close that would involve more market access for U.S. exporters, but no further details on that. He also did acknowledge they're in touch with the EU, and we know from the EU side this morning that Secretary Lutnik and USTR Greer are both in touch with their EU counterparts to see if they might reach an agreement as well. And just two other topics. He repeated some criticism of the Federal Reserve that is familiar now. He said inflation was just very slight and that the Fed should lower interest rates immediately. And then finally, on Russia, with that ceasefire deal and the secondary sanctions that he threatened yesterday, he said if Russia doesn't agree to some sort of a ceasefire within 50 days, then too bad. All of those secondary tariffs and sanctions, Kelly, will take effect then. All of those are much more important than where my mind goes, which is to Nutella. We talk about palm oil from Indonesia. So the consumers can rest easy, I guess, for the time being. Megan, thanks very much. We appreciate it.

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Trump announces 19% tariff on imports from Indonesia

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