Improving the nation's competitiveness will be essential as Trump's presidency may affect Indonesia's trade with the United States, the minister explained.
"We surely have different policies, and we are anticipating (Trump's) policies by enhancing our competitiveness, including by helping small industries reach the global market," he said here on Friday.
Despite the prospect of policy changes during the Trump presidency, trade between Indonesia and the US remains stable and is progressing well, he noted.
According to Statistics Indonesia (BPS) data, the United States is Indonesia's second-largest export destination, with the value of shipments recorded at US$2.22 billion as of September 2024.
Indonesia also registered a trade surplus of US$1.39 billion with the United States in September. The Indonesian-made commodities that contributed to the surplus were machines and electrical equipment and its parts, clothes and accessories, and footwear.
Esther Sri Astuti, executive director of the Institute for Development of Economics and Finance (Indef), a research agency, said on Thursday that Indonesia should improve its industrial competitiveness to anticipate the incoming second presidency of Donald Trump.
Going by his first presidency, Trump is likely to reduce imports to the US and increase tariffs on commodities imported into the country, she said, adding that Trump's "America First" principle will again prioritize US domestic interests.
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Translator: Maria Cicilia, Nabil Ihsan
Editor: Azis Kurmala
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