In advance of trade negotiations with Washington over President Donald Trump’s sweeping tariffs, Indonesia announced a string of concessions for US imports on Tuesday ( Apr 8 ), including lowering taxes on electronic goods and steel.
Next year, South East Asia’s largest economy will take a high-level delegation to the US to seek a resolution to the 32 % tariff’s impact, which is scheduled to go into effect on Wednesday.
In order to facilitate the negotiations, Indonesia will purchase liquefied petroleum gas, liquefied natural gas, and soy from the United States, according to general economic secretary Airlangga Hartarto, who will direct Indonesia’s committee to the US.
He was speaking at a meeting to discuss how to react to US taxes, which was attended by President Prabowo Subianto, the nation’s leading ministers, the governor of Bank Indonesia, the financial expert chief, and business leaders.
Finance Minister Sri Mulyani Indrawati said Indonesia would reduce transfer fees on steel, mine materials, and medical equipment from the United States from 5 to 10 %, expanding on previous work.
She added that Indonesia will reduce import taxes on laptops, mobile phones, and other devices from any nation from 2.5 to 0.5 %.