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View all search resultsRI seeks trade pact with Mexico to avert planned tariffs
Trade Minister Budi Santoso says he is working to secure a bilateral trade agreement to exempt Indonesia from Mexico's planned tariffs. The move follows reports that Mexico intends to impose duties of up to 50 percent on imports from several Asian countries, including Indonesia, starting in 2026.
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Trade Minister Budi Santoso attended a food coordination meeting in Lampung, on December 28, 2024. (Courtesy of/Trade Ministry)
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rade Minister Budi Santoso says Jakarta is working to secure a bilateral trade agreement to exempt Indonesia from Mexico's planned tariffs. The move follows reports that Mexico intends to impose duties of up to 50 percent on imports from several Asian countries, including Indonesia, starting in 2026.
“There has been no imposition [of new tariffs] yet, but we want Indonesia to be exempted [once the tariffs are implemented],” Budi said on Monday after the I-EAEU FTA Strategic Forum in Jakarta, as reported by Bisnis.
He revealed that negotiations on a bilateral trade pact with Mexico had been underway before the tariff proposal surfaced, and that his office was now pushing to expedite the process.
When asked what form an agreement may take, Budi indicated a preference to model it after the Indonesia-Peru Comprehensive Economic Partnership Agreement (IP-CEPA), which was concluded swiftly. Such a deal, he noted, could include a specific clause guaranteeing tariff exemptions for Indonesian exports.
“Discussions are already underway. We met yesterday, but they will be rescheduled,” the minister added.
The issue has taken on new urgency since the Mexican Senate approved tariffs of up to 50 percent on imports from China and other Asian countries in 2026 to bolster local industries, as Reuters reported on Friday.
The proposal, passed earlier by the lower house, will raise or impose new duties starting next year on certain goods, such as automobiles, auto parts, textiles, clothing, plastics and steel from countries that do not have trade deals with Mexico, including China, Indonesia, India, South Korea and Thailand.
