Regarding The US-RI Reciprocal Tariff Agreement, Indonesia Will Expenditure IDR 52 Trillion For Aircraft

JAKARTA Indonesia and the United States have officially issued a Joint Statement (Joint Statement) regarding the framework of the reciprocal trade agreement, one of the main points in the agreement is Indonesia's plan to buy a plane from the United States with a value of US$3.2 billion or around Rp52 trillion (exchange rate of Rp. 16,286 per US dollar).

In addition, there are plans to purchase agricultural products such as soybeans, soybean mangkil, wheat, and cotton, with a transaction value of US$4.5 billion or around Rp. 73 trillion.

Furthermore, the largest transactions come from the energy sector, where Indonesia will import liquid oil (LPG), crude, and gasoline from the United States with a total value of US$15 billion or approximately Rp245 trillion.

Meanwhile, a number of commercial agreements between companies from the two countries, with a transaction value estimated at US$22 billion or around Rp370 trillion.

In a statement released by the White House, it was stated that Indonesia would abolish around 99 percent of tariffs for all industrial products as well as food and agricultural products from the United States. As a reciprocal, the United States will lower the tariff to 19 percent for goods from Indonesia.

"And it can also identify certain commodities that are not naturally available or produced domestically in the United States for further reductions in reciprocal rates," the White House said in a statement Wednesday, July 23.