FX.co ★ Indonesia’s Chief Trade Negotiator to Meet US Officials Over Tariffs

Indonesia is set to highlight its pivotal role in global trade, focusing on its rich natural resources, as it seeks to negotiate a reduction of the impending 32% tariff imposed by the United States, a government representative announced on Wednesday. Haryo Limanseto, the spokesperson for the Ministry of Economic Affairs, stated that Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, who leads the negotiation team, is planning to meet with US Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and other officials. However, no timeline for these discussions was specified. The 32% tariff on Indonesian goods is slated to come into effect on August 1, maintaining the rate initially announced by Washington in April. Last week, Hartarto revealed that Indonesia had proposed reducing tariffs on US products to nearly zero and had offered to bolster purchases and investment from the US, amounting to around USD 34 billion.