Indonesia to chase new trade deals as ‘shocking’ Trump wields tariff threat
Indonesia plans to diversify its export markets and bolster protections for local manufacturers in response to rising global protectionism. Deputy Trade Minister Dyah Roro Esti Widya Putri stated that while President Trump's tariff policies are concerning, Indonesia aims to capitalize on potential market opportunities arising from US tariffs on Chinese goods, while simultaneously safeguarding its own national trade interests.
The increasing risk of global trade disruptions is prompting Indonesia to adopt a cautious approach. The nation will continue pursuing trade agreements and strengthening measures to protect its domestic industries from cheap imports. Despite not having a free-trade agreement with the US, Indonesia's trade with China has significantly increased in recent years, highlighting the need for diversification. In 2023, Indonesia's trade with the US reached $38.3 billion, resulting in a $14.3 billion surplus for Jakarta.
via SCMP Full Text Feed
Indonesia plans to diversify its export markets and bolster protections for local manufacturers in response to rising global protectionism. Deputy Trade Minister Dyah Roro Esti Widya Putri stated that while President Trump's tariff policies are concerning, Indonesia aims to capitalize on potential market opportunities arising from US tariffs on Chinese goods, while simultaneously safeguarding its own national trade interests.
The increasing risk of global trade disruptions is prompting Indonesia to adopt a cautious approach. The nation will continue pursuing trade agreements and strengthening measures to protect its domestic industries from cheap imports. Despite not having a free-trade agreement with the US, Indonesia's trade with China has significantly increased in recent years, highlighting the need for diversification. In 2023, Indonesia's trade with the US reached $38.3 billion, resulting in a $14.3 billion surplus for Jakarta.
via SCMP Full Text Feed
