In a written statement received in Jakarta on Thursday, Kadin chairperson Anindya Bakrie said that compared to many other countries, Indonesia’s negotiations with the US have yielded more favorable results and offer a significant opportunity to boost national exports.
“This achievement deserves recognition, especially as it was secured while Indonesia maintains a trade surplus with the US,” Bakrie, also known as Anin, pointed out.
“First of all, congratulations to the government. I think this is a good deal for Indonesia,” he remarked.
He acknowledged that there may be questions as to why the tariffs were not lowered even further. However, compared to other countries, the revised tariff for Indonesia is relatively competitive, he said.
Indonesia’s tariff rate is now lower than Mexico’s (35 percent) and China’s (30 percent), he expounded.
While the United Kingdom is facing a tariff of just 10 percent, its trade balance with the US is in deficit, unlike Indonesia, which enjoys a surplus, he highlighted.
He added that the agreement could lead to a significant increase in bilateral trade between Indonesia and the US.
“I believe that our trade volume, which currently stands at $40 billion, could reach $80 billion within five years. We must look at the benefits not just for them, but also for us,” he said.
Bakrie added that to seize this opportunity, Kadin plans to hold a meeting with domestic industry players, particularly in the textile, garment, footwear, and electronics sectors, to ensure production capacity is ready to meet the expected surge in demand.
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Translator: Primayanti
Editor: Azis Kurmala
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