Indonesia’s senior economic minister and top negotiator said on Friday ( Apr 25 ) that it wants a” fair and square” trade relationship with the US, giving its national interests precedence in the ongoing negotiations over US tariffs.
Since last week, Sri Mulyani Indrawati and Airlangga Hartarto, the head of the committee, have been negotiating the proposed 32 % taxes that the US wants to establish on Indonesia. These taxes have been suspended for 90 times.
At an online press conference, he said,” In the negotiation process, Indonesia prioritizes national interests while supporting the strengthening of bilateral relations with the US.”
Indonesia reported a US$ 14.3 billion trade deficit with the U.S. last month.
The minister said that the discussions included power source, US market exposure for Indonesian goods, restructuring in Indonesia, and crucial nutrient and technology sharing for agriculture, healthcare, and clean sectors.
The two nations likewise discussed Indonesia’s regional payment method and QR code requirements, which the US claims are a challenge to its payment businesses. Indonesia is accessible to international users, such as US companies Visa and Mastercard, according to Airlangga. A two-week window has been set for professional details discussion.
By switching to US manufacturers for items like maize, soybeans, liquefied petroleum gas, and pure, Indonesia has proposed increasing its goods from the US by away to US$ 19 billion. Additionally, Jakarta has made an offer to lower non-tariff obstacles and suggested some tax-lowering measures for US products.
According to Airlangga, a similar proposal would not be a “zero amount game” for another trade partners, with Indonesia promising to look to purchase other goods from the affected nations.
Indonesia hopes President Donald Trump may reward its quick decision to deal rather than fight. While Trump continues to be the ultimate decision maker, his group has been informed that, according to Sri Mulyani, he might favor” first movers.”
On the day of the International Monetary Fund and World Bank flower meetings this month, Sri Mulyani said she” compared information” with other nations that are subject to significant US tariffs from their negotiations.
She added that Washington has inquired about ASEAN members ‘ responses to US industry plan as a whole.
The Indonesian committee has met with senior US leaders, businesspeople in industries like electronics, as well as professionals from businesses like Google, Amazon, Microsoft, and Boeing.
Sri Mulyani warned on Thursday that Indonesia’s economic growth may be hampered by US tariffs and their impact on global economic development. She anticipates a steady 5 % growth this year, which is only slightly below the government’s target of 52 %, though.