Investing.com -- President Donald Trump announced on Tuesday that the United States has reached a trade deal with Indonesia, following direct negotiations with the Indonesian president.

"Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!" Trump wrote in a post on Truth Social.

The agreement comes after Trump had threatened Indonesia with a 32% tariff rate that would have taken effect on August 1. The president had sent similar letters to approximately two dozen trading partners this month, including Canada, Japan and Brazil, outlining potential blanket tariff rates ranging from 20% to 50%, as well as a specific 50% tariff on copper .

The August 1 deadline was established to give targeted countries time to negotiate agreements that could reduce the threatened tariffs. Some investors and economists have noted that Trump has previously backed away from tariff threats after initial announcements.

Indonesia becomes the fourth country to reach a trade agreement with the United States since Trump launched his recent tariff policy, joining China, the United Kingdom and Vietnam.

Specific details of the Indonesia trade agreement have not yet been released.

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