Indonesia faces 19% tariff as part of trade deal
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Indonesia’s recent agreements with the Western superpower and the European bloc could set the path for other nations seeking similar arrangements. But experts warn against potential pitfalls and sacrificing domestic interests.
Indonesia sees securing a 19% tariff rate with the US as a “huge win” for some of the Southeast Asian nation’s most labor-intensive sectors such as garments and footwear, a government adviser said Wednesday.
Chinese steelmakers are bypassing tariffs in countries such as Indonesia and Turkey by exporting semi-finished products, a tactic that undermines barriers against a flood of cheap Chinese metal and is raising concern in Beijing over the surge in lower-value exports,
Trade Minister Budi Santoso stated that Indonesia faces the lowest United States (US) import tariff among Southeast Asian (ASEAN) countries. “In
Indonesia’s president confirmed he struck a tariff deal with the US after direct negotiations with President Donald Trump accelerated months of talks between officials of both countries.
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Indonesia's central bank cut rates on Wednesday for the fourth time since September and said a revised tariff deal with the United States was positive for Southeast Asia's biggest economy amid weakening global trade and slowing domestic demand.