Articles tagged with “aseantrade”

Indonesia is intensifying efforts to secure a favorable trade deal with the United States amid concerns over proposed tariff hikes that could impact key exports like textiles, footwear, and furniture. Talks in Washington have discussed potential tariffs of up to 32% on top of existing duties, raising costs for Indonesian goods. Economic Minister Airlangga Hartarto warned tariffs could reach as high as 47%, stressing the need for fair treatment compared to other ASEAN nations. Indonesia seeks to protect major exports, including shrimp and furniture, which contribute significantly to its trade surplus with the US, totaling $3.14 billion early this year. Recent high level negotiations ended without a deal, but both sides plan further discussions. Meanwhile, Indonesia is expanding trade talks with the EU and Australia, aiming for better market access under agreements like the CPTPP. The country is also offering cooperation in minerals, energy, and defense to strengthen global trade ties. Industry leaders emphasize the urgency of resolving tariff disputes, as delays could provide crucial time for policy adjustments. With its export driven economy at stake, Indonesia is pursuing multiple diplomatic avenues to secure fairer trade terms.