Indonesia and US Discuss Reciprocal Tariffs, Strengthening Bilateral Trade and Investment
Jakarta, The Gulf Observer: Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto met with United States Secretary of the Treasury Scott Bessent in Washington, D.C., on Thursday (April 24) to continue advancing discussions regarding the US reciprocal tariffs.
In the meeting, Minister Hartarto reaffirmed Indonesia’s commitment to addressing the trade imbalance with the US. He emphasized Jakarta’s stance on fair trade, stating, “We favor fair and square trade activities. Indonesia will boost its purchase of essential commodities from the US, such as oil and gas, as well as agricultural products.” This commitment follows previous similar pledges made during discussions with the US Department of Commerce and the Office of the US Trade Representative.
Hartarto also conveyed Indonesia’s openness to further investments, particularly in critical minerals, the digital economy, and finance, areas where strategic cooperation with the US is of increasing importance. He assured Bessent that Indonesia is dedicated to simplifying domestic regulations that may otherwise hinder trade and investment with the US. These reforms include adjustments to import permits, quotas, and domestic component-level requirements. “We expect to complete detailed discussions and technical negotiations within 60 days,” Hartarto remarked.
Secretary Bessent expressed appreciation for Indonesia’s prompt response to the new US tariffs, which were announced by President Donald Trump on April 2. He noted that Indonesia was among the first countries to initiate talks on the matter, and that the discussions had progressed rapidly. Bessent further highlighted the US’s interest in expanding its collaboration with Indonesia, not only bilaterally but also within global forums like the G20 and the Organisation for Economic Co-operation and Development (OECD), an organization for which Indonesia is currently undergoing the accession process.
The talks between Hartarto and Bessent underscore the continued efforts of both nations to strengthen economic ties and resolve trade challenges through dialogue and mutual understanding.
