U.S. President Donald Trump on Tuesday announced a trade deal with Indonesia, the latest pact in a bid to cement better terms with trading partners and reduce a massive trade deficit, even as the European Union readied retaliatory measures should talks between Washington and its top trading partner fail.

Indonesia said on Wednesday it had reached a trade deal with the United States after an "extraordinary struggle" in negotiations which resulted in a reduction of proposed U.S. tariff rates on Indonesi...

Trump also said the deal included $4.5 billion in Indonesian purchases of American agricultural products.