Indonesia pledges more US imports as part of tariffs talks

JAKARTA: Indonesia said Friday it would boost oil and gas imports from the United States as part of a deal to ease stiff tariffs threatened by Washington, adding that talks would be completed within 60 days.
Chief economic minister Airlangga Hartarto made the comments after he and other delegates met US Secretary of commerce Howard Lutnick, trade representative Jamieson Greer and secretary of state Marco Rubio.
"Indonesia will increase the purchase of energy from the US, including LPG, crude oil, and gasoline," Airlangga told an online news briefing in Washington.
"Indonesia also plans to keep buying agricultural products from the US, such as wheat, soybeans, and soybean milk."
He said the team hoped to meet treasury secretary Scott Bessent next week, adding that Indonesia was one of the first countries the US government accepted to negotiate.
He also said that Indonesia promised it would help American companies operating in Indonesia with easier permits and incentives.
The 32 percent tariffs imposed on Indonesia in Donald Trump's April 2 "Liberation Day" announcement were among Asia's highest. But like most other countries, it was given a 90-days pause to allow time for negotiations.
"Indonesia and the US have agreed to complete the negotiations within 60 days, and the reference framework or framework has been agreed," Airlangga said.
Data from the US trade representative office shows Washington's goods trade deficit with Jakarta stood at $17.9 billion in 2024, up 5.4 percent on-year.
Finance minister Sri Mulyani said this month that Indonesia would adjust import taxes on some commodities from 2.5 percent to 0.5 percent, including mobile phones and laptops.
Other products, including US steel and medical equipment, would be granted lower import duties of zero to five percent, down from 5-10 percent, she said.