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.

US president announces Jakarta will purchase 50 Boeing jets and billions of dollars’ worth of energy and agricultural goods as part of new deal

The 27-nation European bloc and Southeast Asia's largest economy have been negotiating since 2016 to agree a deal that is expected to increase trade and investment.