Indonesia Targets Concluding Tariff Deal with US by Year End
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Indonesia expects to conclude a trade agreement with the US by the end of the year as pressure builds on both sides to iron out disagreements that threaten to unravel their ties.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Indonesia expects to conclude a trade agreement with the US by the end of the year as pressure builds on both sides to iron out disagreements that threaten to unravel their ties. Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Jakarta will send a delegation to Washington next week to discuss the matter after senior officials “agreed to finalize what was agreed upon by the leaders on July 22,” said Coordinating Minister for Economic Affairs Airlangga Hartarto at a business gathering in Jakarta on Friday. He made the comment after speaking with US Trade Representative Jamieson Greer on Thursday night.In July, the US and Indonesia reached a trade framework agreement, where Indonesia would eliminate tariffs on over 99% of US goods and remove non-tariff barriers, in exchange for the US reducing tariffs on Indonesian products from a threatened 32% to 19%.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.However, US officials claim Indonesia has backtracked on commitments, while Jakarta resists US demands that it fears would compromise its independence, particularly in critical minerals and energy — risking its relations with China and Russia. Specifically, Indonesia objects to clauses allowing Washington to scrap the deal if Jakarta signs pacts deemed to jeopardize US interests, Bloomberg News reported earlier, raising questions about the trajectory of the deal.When asked about that sticking point, Hartarto said, “Those provisions don’t apply to Indonesia. It’s different. We’ll finalize that next week.” A completion of the trade deal “provides positive sentiment for foreign investors,” said Myrdal Gunarto, an analyst at PT Bank Maybank Indonesia. —With assistance from Prima Wirayani.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2025 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.