India, July 16 -- Asian stocks ended mostly lower on Wednesday as U.S. President Donald Trump announced a 19 percent tariff on Indonesian exports under a new bilateral pact.
Indonesia has scrapped tariffs on U.S. goods and pledged billions in purchases to maintain access to its second-largest export market, it was said. Analysts said the deal is heavily skewed in favor of the U.S., requiring significant trade-offs.
The 19 percent tariff is just below Vietnam's 20 percent and Bangladesh's 35 percent, two key rivals in major export sectors such as textiles, footwear and apparel.
The dollar pulled back slightly, and U.S. Treasury yields retreated after rising in the previous session as June U.S. CPI data showed early signs of tariff-linked ...