“We are still waiting for America’s response; no deal has been achieved. We need to wait as other countries have also not achieved any deals,” he informed here on Wednesday.
His optimism is based on the fact that trade between Indonesia and the United States has been mutually beneficial so far. “We need each other. The Americans need us, and likewise, we need them for their markets,” the minister explained.
Santoso highlighted that the US is the top contributor to Indonesia’s trade balance surplus, with its share recorded at US$7.08 billion, followed by India (US$5.30 billion) and the Philippines (US$3.69 billion).
To maintain this surplus, the Trade Ministry is identifying potential commodities that can be offered for exports to the United States, he said.
However, if the diplomatic process later does not yield a favorable outcome for Indonesia, the government is ready to strategize to mitigate its effects on the national economy.
“We see changes occurring constantly in the US’ trade war, so we must anticipate it. We are ready to face potential changes,” Santoso added.
Meanwhile, Coordinating Minister for Economic Affairs, Airlangga Hartarto, said that the government is waiting for a feedback on the reciprocal tariff negotiations with the US.
“Indonesia has handed over the second offer received by the United States Trade Representative (USTR), which has been reviewed,” he informed on Wednesday.
“Indonesia also offered its critical minerals so that the US and Danantara can jointly invest in the critical mineral ecosystem,” he added.
The deadline for tariff negotiations is July 8, or 90 days after President Trump announced the reciprocal tariffs on US trading partners in early April 2025.
The US government justified the tariffs, saying they would help it balance trade with trading partners. Indonesia was slapped with a 32-percent reciprocal tariff by the Trump administration.
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Translator: Maria Cicilia G, Nabil Ihsan
Editor: Azis Kurmala
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