Hanoi (VNA) – Indonesian Minister of Trade Budi Santoso has affirmed his country's readiness to address potential impacts of a trade war between the US and China when Donald Trump assumes the presidency.
Trump has proposed a 100% tariff on BRICS member countries and a 60% tariff increase on Chinese goods, which could escalate geopolitical tensions and disrupt global supply chains.
Santoso emphasised that enhancing competitiveness is key to sustaining the economy amid such challenges. He noted that strong competitiveness would position Indonesia as an attractive partner for global trade, leveraging its advantages in goods and services.
The minister added that the government is exploring new strategies to establish bilateral economic cooperation with the US.
Earlier, Coordinating Minister for Economic Affairs Airlangga Hartarto revealed that Indonesia would seek tariff reductions from the US through bilateral agreements. This initiative is part of efforts to mitigate the anticipated impacts of import tariffs under Trump’s administration.
Airlangga highlighted that Indonesia-US trade cooperation could be advanced through various mechanisms, including a potential Free Trade Agreement.
He underlined the importance of such initiatives in helping Indonesia capitalise on its strengths and minimise the effects of trade policies from the world’s largest economy./.
