"All negotiations have been completed, with legal drafting reaching 90 percent. We are now waiting for the signing schedule," Airlangga said on February 3, as quoted by local news site Tempo .

The announcement comes moments after Washington agreed to slash reciprocal tariffs on Indian goods from 50% to 18%, easing pressure on Asia’s third-largest economy. 

Indonesia is now set to become the next major Asian country to secure tariff relief under the Trump administration.

Airlangga has previously said the U.S. agreed to cut reciprocal tariffs on Indonesian goods from 32% to 19%, supported by import concessions and purchase commitments, though details will only be released after the deal is signed.

The tariff talks began in April 2025 and covered market access, non-tariff barriers, investment and critical minerals cooperation. Once signed, the agreement will be reported to lawmakers in both countries.

Indonesia ran a $16.5 billion trade surplus with the United States in the January to November 2025 period, up from nearly $13 billion in all of 2024, underscoring the economic stakes of the deal.

The summit marked the continuation of a complicated diplomatic relationship that has spanned years and several countries.

The map of their meetings tells a story of evolving political theatre. Their first face-to-face encounter took place at the G20 Summit in Hamburg, Germany, in July 2017, followed by the APEC Summit in Da Nang, Vietnam, later that year.

They met again during the Helsinki Summit in Finland in June 2018 and at the WWI Armistice centenary in Paris that November. The G20 Summit in Osaka, Japan, in June 2019 rounded out the early chapter of their encounters, before geopolitical realities and Trump’s departure from office paused direct talks.

The Anchorage Summit reignited global attention. According to CBS News , discussions focused heavily on the ongoing war in Ukraine, sanctions, and global energy prices.

However, much like their previous meetings, the summit produced more symbolism than substance, with no significant breakthroughs on ceasefire agreements or troop withdrawals. Reuters described the talks as “cordial but inconclusive.”

Now, attention is turning toward Budapest, Hungary, as the potential venue for their next meeting. Following a phone call between Trump and Putin on October 16, both sides signalled openness to further negotiations in the Hungarian capital, a move widely supported by Hungarian Prime Minister Viktor Orbán.

In remarks quoted by AP News , Orbán said Hungary was proud to serve as neutral ground, calling his country “the only place in Europe” capable of hosting such high-stakes diplomacy.

For Ukraine, the timing couldn’t be more sensitive. Just days after Trump and Putin’s call, Ukrainian President Volodymyr Zelenskyy visited Washington to push for advanced U.S. weapons and reaffirm support for Kyiv.

Still, expectations remain cautious. Analysts cited by AP News and The Kyiv Independent note that previous summits between the two leaders, often long on photo ops and short on policy outcomes, suggest the upcoming Budapest meeting may not deliver sweeping results either.

The remarks come in the aftermath of the recent 12-day conflict between Israel and Iran, a volatile confrontation that ended with a series of high-impact Israeli and U.S.-backed strikes on Iran’s suspected nuclear sites.

Trump, during the meeting, claimed responsibility for the degradation of Iran’s nuclear capability during that conflict.

“Can you imagine the beating they took?” Trump said. “We wiped out their nuclear possibilities. They can start again. If they do, we’ll wipe it out faster than you can wave your finger at it.”

He added that Iran has been "sending very bad signals" despite suffering heavy losses. “Very nasty signals,” he emphasised. “And they shouldn’t be doing that.”

Trump’s fiery comments come as Iran resumes negotiations with the E3: the UK, France, and Germany, along with the European Union , in an attempt to revive diplomatic discussions over its nuclear programme.

Tehran, however, continues to maintain that its nuclear ambitions are strictly peaceful and focused on civilian energy development.

“We are ready to do any confidence-building measure needed to prove that Iran’s nuclear programme is peaceful and would remain peaceful forever, and Iran would never go for nuclear weapons, and in return, we expect them to  lift their sanctions ,” Iran's foreign minister, Abbas Araghchi, told Fox News last week.