JAKARTA: Indonesia mentioned on Friday (Apr 18) it will enhance oil and fuel imports from the US as a part of a deal to ease stiff tariffs threatened by Washington, including that talks could be accomplished inside 60 days.
Chief Financial Minister Airlangga Hartarto made the feedback after he and different delegates met US Secretary of Commerce Howard Lutnick, Commerce Consultant Jamieson Greer and Secretary of State Marco Rubio.
“Indonesia will enhance the acquisition of power from the US, together with LPG (liquefied petroleum fuel), crude oil and gasoline,” Airlangga advised a web based information briefing in Washington.
“Indonesia additionally plans to maintain shopping for agricultural merchandise from the US, reminiscent of wheat, soybeans, and soybean milk.”
He mentioned the crew hoped to fulfill Treasury Secretary Scott Bessent subsequent week, including that Indonesia was one of many first international locations the US authorities accepted to barter.
He additionally mentioned that Indonesia promised it will assist American firms working in Indonesia with simpler permits and incentives.
The 32 per cent tariffs imposed on Indonesia in Donald Trump’s Apr 2 “Liberation Day” announcement have been amongst Asia’s highest. However like most different international locations, it was given a 90-day pause to permit time for negotiations.
“Indonesia and the US have agreed to finish the negotiations inside 60 days, and the reference framework or framework has been agreed,” Airlangga mentioned.
Knowledge from the US Commerce Consultant Workplace exhibits Washington’s items commerce deficit with Jakarta stood at US$17.9 billion in 2024, up 5.4 per cent on-year.
Finance Minister Sri Mulyani mentioned this month that Indonesia would alter import taxes on some commodities from 2.5 per cent to 0.5 per cent, together with cell phones and laptops.
Different merchandise, together with US metal and medical gear, could be granted decrease import duties of 0 to five per cent, down from 5 to 10 per cent, she mentioned.
