FX.co ★ Indonesia to Ease Import Restrictions Ahead of US Tariff Deadline

Indonesia is set to relax import restrictions and regulations across a broad spectrum of goods and raw materials to enhance the country’s business climate, as announced by officials on Monday. This strategic decision precedes the looming July 9 deadline for tariff negotiations with the United States. The adjustments will include eliminating import licensing requirements for specific goods and excluding certain industrial raw materials—such as plastics and chemical products—from the list of restricted imports. Coordinating Minister for Economic Affairs, Airlangga Hartarto, stated that the changes would impact 10 categories of commodities and are anticipated to be implemented within two months. Trade Minister Budi Santoso further elaborated that the eased regulations would pertain to sectors including fertilizers, forestry, and plastics. According to the US Trade Representative, the US reported a goods trade deficit of USD 17.9 billion with Indonesia in 2024.