Indonesia and U.S. Trade: A New Era of Zero Tariffs
Indonesia has agreed to eliminate tariffs on over 99% of its trade with the U.S., while the U.S. will cut tariffs on Indonesian products. Non-tariff barriers and export restrictions will be removed, benefiting U.S. automakers and agricultural producers. Indonesia will also support a moratorium on e-commerce duties.
In a significant trade development, Indonesia will slash tariffs to zero for over 99% of its trade with the U.S., according to a senior Trump administration official. In return, threatened U.S. tariffs on Indonesian goods will drop to 19%, from an initial 32%, as part of a deal announced last week.
This agreement will also see Indonesia abandoning plans to impose tariffs on internet data flows and supporting the renewal of a WTO moratorium on e-commerce duties. The removal of pre-shipment inspections for U.S. exports aims to reverse the U.S. agricultural trade deficit with Indonesia.
In a move benefiting American automakers, Indonesia will accept U.S. Federal Motor Vehicle Safety Standards and lift export restrictions on critical minerals, enhancing trade opportunities between the two nations.
(With inputs from agencies.)
- READ MORE ON:
- trade
- tariffs
- Indonesia
- U.S.
- e-commerce
- duties
- automakers
- agricultural
- exports
- barriers
ALSO READ
FATF Warns of E-Commerce Misuse in Global Terror Financing
FSSAI Cracks Down on E-commerce: Stern Warning for Compliance
Chinese Automakers Accelerate into Europe, Sparking Trade Tensions
FSSAI Tightens Food Safety Norms for E-commerce Platforms, Ensures Consumer Safety
Kerala Doctors Protest Unqualified Food Testing Duties for VP Visit
Google News