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,

Trump announced the pact with Indonesia, a relatively minor U.S. trading partner, as he continued to press for what he views as better terms with trading partners and ways to shrink a huge U.S. trade deficit.

Details are still scarce on the agreement, which the president said will partly walk back some of the steep tariffs he threatened on the country last week.