Indonesia to increase US imports and lower other | Australian Markets
Indonesia will increase imports of US food and commodities and scale back orders from nations the Southeast Asian nation presently buys the merchandise from, its chief financial minister says.
Airlangga Hartarto is in Washington as half of a delegation of senior officers to meet US counterparts for talks on a 32 per cent tariff on Indonesian exports, which has been paused for 90 days.
Indonesia has proposed growing its imports from the US by up to $US19 billion ($A30 billion), together with $US10 billion of power imports, to remove its trade surplus with Washington and keep away from the tariffs threatened by the administration of President Donald Trump.
“Indonesia also plans to buy agricultural products including wheat, soybeans and soybean meal and increase purchases of capital goods from the US,” Airlangga stated at a news convention in Washington that was broadcast on Zoom.
Indonesia may also work on essential minerals and simplify procedures associated to American horticultural merchandise imports.
“We will also facilitate American companies that have been operating in Indonesia, related to permits and incentives,” he stated on Thursday.
After a assembly with the US trade consultant and the secretary of commerce, the 2 nations agreed to full negotiations within the following 60 days.
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