Indonesia, which has been subjected to a 32% tariff by the United States, announced that it will lower import tariffs on major U.S. products to 0-5% in order to conduct trade negotiations.
On the 8th (local time), according to local media, Indonesian President Prabowo Subianto discussed tariff response measures under the theme of "Strengthening the Resilience of the National Economy" with ministers from the economic departments, the governor of the Central Bank of Indonesia, and business leaders.
Finance Minister Sri Mulyani stated that import tariffs on U.S.-made steel, mining products, and medical equipment, which are currently at 5-10%, will be reduced to 0-5%. Additionally, tariffs on electronic products, mobile phones, and laptops will be lowered from 2.5% to 0.5% for all countries.
The tariff rates applied to Indonesia are lower than those imposed on countries Indonesia considers competitors, such as Vietnam (46%), China (34%), Cambodia (49%), Thailand (36%), and Bangladesh (37%).
Minister of Economic Coordination Airlangga Hartarto, who is scheduled to lead the Indonesian delegation to the United States for trade negotiations, stated that as one of the negotiation cards, they plan to import U.S.-made liquefied petroleum gas (LPG), liquefied natural gas (LNG), and soybeans.
Plans to expand imports of parts for refinery projects and to relax local parts usage regulations for information technology (IT) companies are also under consideration.
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