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Kadin plans to hold talks with US chamber on tariffs
Indonesian Chamber of Commerce Industry (Kadin) chairman Anindya Bakrie plans to hold talks with the United States Chamber of Commerce in May over the US administration’s move to impose a 32 percent tariff on goods imported from Indonesia.
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Indonesian Chamber of Commerce and Industry (Kadin) chairman Anindya Bakrie (right) takes part in a discussion during the Milken Asia Summit in Singapore on Sept. 18, 2024. (Antara/Private archive)
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ndonesian Chamber of Commerce Industry (Kadin) chairman Anindya Bakrie plans to hold talks with the United States Chamber of Commerce in May over the US administration’s move to impose a 32 percent tariff on goods imported from Indonesia.
In a statement released on Thursday, the day after US President Donald Trump announced broad tariffs on other countries, Anindya conveyed Kadin's plan to visit the US in May to continue partnership talks with its US counterpart as well as to attend business conferences.
“I perceive President Trump’s remark as an opening statement, meaning that the door for negotiation remains open,” he stated, suggesting that Indonesia’s strategic location in the Pacific area and the country’s vital role in ASEAN in the Asia-Pacific Economic Cooperation (APEC) forum gave it sway in global economic affairs.
Anindya also noted Indonesia’s significance as the country with the largest Muslim population and a leader among non-bloc nations, which he added was “no doubt a consideration for Trump”.
Read also: Rupiah drops to multiyear low ahead of Trump's tariffs, domestic uncertainty
The so-called reciprocal import tariff the US imposed on Indonesia is projected to significantly impact the trade balance and investment flows. The US is the largest contributor to the country’s foreign exchange, with Indonesia enjoying a surplus of US$16.8 billion in bilateral trade last year.
The new US policy is expected to affect the flow of foreign direct investment (FDI) and portfolio investments. Efforts to address the impact should focus on attracting more investment in special economic zones (SEZs) from the US and its allies, while also aiming to attract industry relocations from China, Anindya said.
