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View all search resultsPrabowo vows to defend national interests as US trade deal draws scrutiny
The government said that ratifying the ART agreement was not on its near-term agenda and that it would contest allegations of unfair trade practices later raised by the US in its Section 301 probe.
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Briefing: Prabowo Subianto (left) speaks with several senior journalists, economists and analysts on March 17 at his private residence in Hambalang, Bogor regency, West Java. (Antara/Handout/Government Communication Office)
P
resident Prabowo Subianto delivered a strong warning that Indonesia would not hesitate to walk away from any trade framework if its terms or implementation harmed national interests.
He made the remarks in response to questions about provisions in the Agreement on Reciprocal Trade (ART) with the United States that could potentially conflict with existing laws and the country’s economic agenda, without explicitly stating that Indonesia would withdraw from the deal.
Meanwhile, the government said that ratifying the ART was not on its near-term agenda and that it would contest allegations of unfair trade practices later raised by the US in its Section 301 probe.
Speaking to journalists and economists at his Hambalang residence on March 17, Prabowo said the government would not adopt clauses that contradict existing regulations.
“You must believe that I prioritize Indonesia’s national interest,” Prabowo said. “If I see that our national interests are threatened by any agreement, then we can leave it,” he added, pointing to Malaysia’s move as an example.
Despite signing a separate ART deal with the US in October of last year, Malaysia’s investment, trade and industry minister said in March that the agreement had become void, effectively nullifying the 19 percent tariff imposed on Malaysian imports to the US.
The move followed a US Supreme Court ruling in February that invalidated the legal basis for tariffs imposed by US President Donald Trump under the International Emergency Economic Powers Act (IEEPA) last year.
