Despite the 19 percent reciprocal tariff announcement, there is still room for negotiation, especially for commodities in high demand in the US, secretary of the Coordinating Ministry for Economic Affairs, Susiwijono Moegiarso, said.
“President Prabowo Subianto has announced that our reciprocal tariff with the US is finalized at 19 percent. However, there is still room for negotiation, especially for our commodity products needed by the US. We are negotiating to achieve a zero percent tariff,” he informed on Friday.
He said that the commodities proposed for zero percent tariff treatment include crude palm oil (CPO), coffee, cocoa, and nickel.
He informed that the range of products being negotiated is quite extensive and highly competitive, and includes strategic commodities for the US market.
According to Moegiarso, negotiations are underway between the Indonesian team led by Coordinating Minister for Economic Affairs, Airlangga Hartarto, and the Office of the US Trade Representative (USTR) on the matter.
The details of the agreement will be included in a joint statement document, which will be announced publicly.
He said that the document will cover all aspects the two governments reach an agreement on, ranging from reciprocal tariffs, non-tariff barriers, to bilateral trade and investment commitments.
“It will be formally included in the joint statement,” he added.
Earlier, US President Donald Trump announced a 19-percent tariff on Indonesian products.
The agreement also includes a commitment by Indonesia to purchase US$15 billion worth of energy, US$4.5 billion worth of agricultural products, and 50 Boeing aircraft from the US.
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Translator: Bayu Saputra, Resinta Sulistiyandari
Editor: Primayanti
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