Indonesia pushes ahead with trade negotiations with US although hit with a 32% rate
JAKARTA (Vietnam News/ANN): The Indonesian Government will soon announce its response to the US's decision to maintain a 32% import tariff on Indonesian goods, Minister of Finance Sri Mulyani Indrawati has announce.
The minister unveiled the information after attending a plenary session at the House of Representatives (DPR) in Jakarta.
Meanwhile, Deputy Minister of Finance Anggito Abimanyu said more time is needed to assess the potential economic impact, noting that the policy has not yet been implemented. He welcomed the government's continued efforts to pursue dialogue with the US.
Abimanyu noted that the US appeared open to revisiting its decision, and said Indonesia planned to take advantage of this opportunity to protect its national interests.
In a letter dated July 7 and addressed to President Prabowo Subianto, US President Donald Trump confirmed the decision to keep the 32% tariff in place, despite ongoing talks.
Trump suggested that the tariff rate could still be adjusted if Indonesia agrees to further open its market to US products, revise its trade policies, or begin manufacturing goods in the US.
Meanwhile, other South -E ast Asian countries have also seen shifts in US tariff rates. Thailand and Cambodia now face additional import tariffs of 36% - adjusted from previous rates of 36 and 49% - while Malaysia's tariff has increased slightly, from 24 to 25%.
Trump unleashed his latest tariff ultimatums, declaring a 30% rate for Mexico and the European Union, as his trade agenda continues to keep allies off balance and inject uncertainty into global financial markets.
Other countries Trump has singled out for tariffs hikes in recent times include Japan, South Korea and South Africa as well as Algeria, Libya, Iraq and Sri Lanka. - Vietnam News/ANN
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