Indonesia to chase new trade deals as ‘shocking' Trump wields tariff threat
Published: 4:02pm, 14 Feb 2025 Indonesia will seek to diversify its markets as global protectionism intensifies, while also taking steps to defend its local manufacturers, Deputy Trade Minister Dyah Roro Esti Widya Putri has said.
'Trump's statements on tariffs are quite shocking in a lot of ways, but we think Indonesia could maximise its market potential if the US imposes tariffs on Chinese goods,' Roro said in an interview in Jakarta late on Wednesday. 'We are safeguarding our national trade, while expanding exports.' US President Donald Trump 's plans for tariffs against countries ranging from Canada to China have stoked fears globally that all exporting nations may face more barriers to the world's biggest consumer market. On Wednesday, the European Union trade chief spoke to US officials over their trade disputes, and all Canada's premiers were in Washington to lobby against import taxes. The risk of global trade turmoil is making Indonesia take a measured stance, while it continues to seek more trade deals and tighten protection for local manufacturers from cheap imports dumped in its market, said Roro, who at 31 is the youngest official in President Prabowo Subianto 's cabinet.
'We do not want to act too hastily in imposing any kind of import regulation,' she said. 'Once the situation becomes clearer, the government will implement policies that are in Indonesia's best interest.'
Southeast Asia's largest economy has long sought deeper trade ties with the US but, unlike some of its neighbours, it does not have a free-trade agreement or Comprehensive Economic Partnership Agreement with Washington. Instead, it relies on mechanisms like the Trade and Investment Framework Agreement to manage trade relations.
Indonesia's total exports to China, its top destination, more than doubled from 2019 to 2024, according to its trade ministry, while shipments to the US rose by just 47 per cent over that span. Indonesia's trade with the US totalled US$38.3 billion last year, with Jakarta posting a US$14.3 billion surplus, according to the ministry.
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