Hanoi (VNA) – Indonesia’s Investment and Downstreaming Minister Rosan Roeslani has confirmed that Indonesian copper will be subject to a zero-percent import tariff in the US, while negotiations continue to expand this exemption to other commodities.
He said that Indonesia is still negotiating with the US Trade Representative (USTR) to reduce import tariffs on other commodities, such as nickel and palm oil, and he expressed optimism about achieving favourable results.
He said so far, Indonesia has got zero tariff for copper, and the incentive on other commodities such as nickel is likely to be approved, even if not at 0%, but at least lower than the current 19% tariff.
According to Roeslani, Indonesia is also seeking a tariff-free status for other commodities that are not produced in the US.
Earlier, Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia is seeking tariff reductions on commodities including crude palm oil, rubber, shorea wood, and copper derivatives.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
In exchange, Indonesia has committed to purchasing 15 billion USD in US energy products and 4.5 billion USD in US agricultural products.
Indonesia also intends to purchase 50 Boeing planes, mostly Boeing 777. No details were provided regarding the Indonesia purchasers./.
