"It has negative impact on all of us": Special International Trade Advisor to Indonesian President on US tariffs

Mari Elka Pangestu, Special Advisor for International Trade and Multilateral Cooperation to the President of Indonesia, on Friday commented on the impact of US tariffs, stressing the need for countries to manage negotiations carefully without harming trading partners. "We know that it has negative impact on all of us in terms of our GDP, trade, and investments. I think every country is conducting its own bilateral talks and negotiations," Pangestu said.

She added, "However, the main message there is that we should not do it in a way which would hurt our other trading partners and that we should adhere to some level of way of dealing with the US that will enable us to continue to engage with the US but also make sure that we increase trade between each other and manage any other second order effect from the impact of the tariffs such as what a lot of people are worried about is the trade diversion issue." Pangestu also referred to Union Finance Minister Nirmala Sitharaman's inaugural address at the Kautilya Economic Conclave 2025, calling it significant for its emphasis on resilience and regional cooperation.

"The Minister of Finance opened the Kautilya Conclave with a significant speech, emphasising the importance of working together to find our path towards the new order, crafting our own way, and not just accepting uncertainties. She also highlighted the importance of domestic responses in strengthening our domestic resilience," Pangestu said. She further noted, "Importantly, she emphasised the importance of domestic reforms, highlighting what India has already accomplished and plans to continue doing.In that session, the key message was about how we, as a region, can continue to open up to each other and enhance regional integration and interdependence, which is a win-win approach toward prosperity and avoiding becoming a closed block."

Pangestu underlined that platforms for regional cooperation would be essential for the region's future. "Therefore, finding platforms for regional cooperation that will help us become a resilient region is, I believe, one of the main messages today," she said. (ANI)

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