JAKARTA - The Minister of Trade (Mendag) Budi Santoso denied reports that the Indonesia-United States (US) trade agreement was threatened with failure. He said the negotiation process was still ongoing.
"No. Everything is still in the negotiation process," he told reporters in Jakarta, Wednesday, December 10.
Budi believes the chances of a failed trade agreement with the US will not occur. In fact, he targets the trade agreement to be completed in the near future.
"No, no. That's part of the negotiation process," he said.
For your information, the news of the failure of the trade agreement between Indonesia and the US was revealed from a US official's statement to Reuters.
The trade agreement was threatened with failure after Indonesia withdrew some of its commitments made by the two parties last July. Even so, he did not explain in more detail the specific commitments drawn by Indonesia.
Last week, US Treasury Secretary Scott Bessent also stated that Indonesia was rather stubborn in the trade agreement. However, he did not explain how tough negotiations were with Indonesia.
Previously, the Minister of Trade (Mendag) Budi Santoso said the government was still waiting for a US decision regarding the tariff negotiations imposed on Indonesia.
"Not yet, still waiting. Hopefully, I'm still waiting," he said when met in South Jakarta, Thursday, December 4.
On the other hand, Budi said he was optimistic that Indonesia's exports next year could grow amid the reciprocal rates imposed by the President of the United States (US) Donald Trump.
According to Budi, Trump's tariff will not be a barrier to national export growth next year.
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"Oh no, no (Trump's tariff will interfere with exports in 2026). So we are optimistic that it will continue. Right, it already exists, we made 5 years, that's what this year (growth) is 7.1 percent. That's 9 percent until 2029," he said.
According to Budi, the export projections installed are to support national economic growth at 8 percent.
"This is to support 8 percent economic growth. So we already have calculations, and we are optimistic. Optimistic is achieved," he said.
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