Indonesia says it expects bilateral trade, worth $30.1 billion for goods in 2024, to double in the first five years. Trump Provides Spur to Trade DealSince Trump’s re-election last November, the EU has gone into overdrive to forge new trade alliances, including with the South American bloc Mercosur and Mexico and also accelerating negotiations with India. Indonesia is in talks with EU automakers on partnerships in battery and electric vehicle production in the Southeast Asian country, he told reporters. The Chairman of the Indonesian Palm Oil Association (GAPKI), Eddy Martono, said the deal would remove tariffs on his sector’s exports to the EU, a major buyer of palm oil. However, non-tariff barriers, including the EU Deforestation Regulation (EUDR), remain a hurdle for the industry, he said in a text message to Reuters.