Indonesia eyes cut in fuel imports from Singapore in favour of US as part of tariffs negotiations

Indonesia eyes cut in fuel imports from Singapore in favour of US as part of tariffs negotiations

Indonesia’s energy minister announced on Friday ( May 9 ) that it plans to change the source of some of its fuel imports from Singapore to the United States as part of negotiations over steep tariffs. &nbsp, &nbsp,

Indonesian goods have a 32 % tax on American goods, but the application has been postponed until July to allow for negotiations. &nbsp,

Minister Bahlil Lahadalia predicted that some gas imports would be changed eventually. In the early stages, he said, Indonesia could move up to 60 % of its overall gas imports from Singapore to the United States. &nbsp,

He told reporters, adding that the shift could occur in the next six months, that “it is almost certain that we will take other fuel imports from other countries, not from that one ( Singapore ).

In addition to increasing fuel exports from the United States, Indonesia has made a wider plan to Washington to tackle the taxes.

The government has stated that it wants to increase US power imports by around US$ 10 billion, which even includes US purchases of US fuel, petroleum oil, and liquid petroleum gas.

According to Bahlil, Indonesia wants to buy ten times more US simplistic as part of the negotiations than it currently does. About 4 % of its crude exports currently come from the United States. &nbsp,

Pertamina, a state energy company, has stated that it will be prepared to carry out the plan, and that it may have to increase its fuel storage capacity to house US gas.