President Trump said the agreement would partly walk back some of the steep tariffs he threatened on the country last week. Indonesia’s president called Mr. Trump a “tough negotiator.”

Indonesia's central bank cut rates on Wednesday for the fourth time since September and said a revised tariff deal with the United States was positive for Southeast Asia's biggest economy amid weakening global trade and slowing domestic demand.

The tariff would be collected from miners only when coal prices are high, with authorities potentially including it in the 2026 budget plan.