Indonesia and US work to reduce tariffs and open trade opportunities

usly projected that balancing the US trade deficit with partner countries could take two or three years.

On the other hand, Coordinating Minister for Economic Affairs Airlangga Hartarto mentioned that Indonesia’s negotiation efforts with the US have been commendable. The country has proposed comprehensive cooperation plans aimed at addressing the trade deficits between the two nations. These proposals include focusing on five main areas: national energy resilience, export market access, business and investment deregulations, strategic industry and critical minerals supply chains, and technology and innovation access. The intention behind these proposals is to find concrete and mutually beneficial solutions.

Furthermore, Indonesia and the US have agreed to engage in intensive technical discussions over the next two weeks. The goal of these discussions is to work collaboratively in finding solutions that benefit both parties and enhance economic cooperation between the two countries.

The Indonesian government is also actively engaging with partners such as ASEAN Plus Three and the European Union to seek common interests and foster mutually beneficial cooperation, as highlighted by Minister Indrawati. These efforts aim to diversify Indonesia’s export markets and open new avenues for economic growth and development.

The discussions and negotiations between Indonesia and the US come at a crucial time when global trade dynamics are shifting. With the ongoing impact of the COVID-19 pandemic and changing economic landscapes, it becomes increasingly important for countries to find innovative and collaborative solutions to trade challenges.

In conclusion, Indonesia’s approach to mitigating the US reciprocal tariffs demonstrates a commitment to reducing shocks and embracing new economic opportunities. By prioritizing dialogue, proposing comprehensive cooperation plans, and engaging in intensive negotiations, Indonesia aims to strengthen economic ties with the US and other international partners. Through these efforts, Indonesia hopes to achieve inclusive and sustainable economic growth while fostering mutually beneficial cooperation on a global scale.