Indonesia will not retaliate against U.S. President Donald Trump's 32% trade tariff on Southeast Asia's largest economy, its senior economic minister said on Sunday in the government's first response to the levy.

President Trump has said many countries are coming to the Trump administration to try to negotiate a reduction in the new tariffs. Former senior State Department official and former CIA official Ned Price weighs in on the matter and explains why Trump’s history with “favors” gives him reason to worry further about these tariffs.

India is negotiating a trade deal with the United States, which is likely to be announced before tariffs come into force next week. US President Donald Trump announced a 26% reciprocal tariffs on Indian imports.