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View all search resultsGovt urged not to compromise too much for US trade deal
The government has issued a loosely-worded statement days ahead of the expected signing of a tariff agreement with the United States, following a weekend meeting at President Prabowo Subianto’s Hambalang estate in Bogor, West Java.
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Peace gambit: President Prabowo Subianto (right) shakes hands with United States President Donald Trump on Jan. 22 at the Board of Peace launch event during the World Economic Forum (WEF) annual meeting in Davos, Switzerland. (AFP/Fabrice Coffrini)
D
ays ahead of the expected signing of a bilateral tariff agreement with the United States, analysts have called on the government to tread with caution regarding concessions made, specifically opening the domestic market to US goods.
Paramadina University economist Wijayanto Samirin said Jakarta had to pay careful attention to the pricing of US commodities. “It shouldn’t be the case that we are forced to buy products at uncompetitive prices”.
Speaking to The Jakarta Post on Monday, Wijayanto said incoming shipments of wheat and soybean, in particular, would need to be properly coordinated with Indonesia’s private sector to prevent excessive market disruption.
“Regarding the commitment to buy airplanes and energy commodities, the government has to be careful, given that our financial situation is not strong,” said Wijayanto, before urging the government not to be afraid to back off from a deal that might disadvantage the archipelago.
The government issued a loosely-worded statement on Monday, following a weekend meeting at President Prabowo Subianto’s Hambalang estate in Bogor, West Java.
The meeting on Sunday was attended by State Secretary Prasetyo Hadi, Coordinating Economic Minister Airlangga Hartarto, Finance Minister Purbaya Yudhi Sadewa and Investment and Downstream Minister Rosan Roeslani, who is also the CEO of state asset fund Danantara.
Cabinet Secretary Teddy Indra Wijaya said in a statement afterward that Prabowo wanted any deal to “increase domestic industrial productivity to the fullest extent possible, […] ensuring that the position taken by Indonesia in economic negotiations with any party — particularly in the near term with the United States — is the best and most advantageous for Indonesia,”.
