JAKARTA - Executive Director of the Center of Reform on Economics (CORE) Indonesia Mohammad Faisal said the decision of the United States Supreme Court (US) to cancel the reciprocal tariff policy of US President Donald Trump allowed Indonesia to renegotiate tariffs.
Although Trump announced a "global import tariff" of 10 percent, Faisal reminded Indonesia to re-examine a number of points in the Agreement on Reciprocal Trade (ART) document that are not beneficial.
"Actually, for trading partner countries including Indonesia, they should renegotiate. Moreover, from what we agreed yesterday, what we signed, there are many losses that we face," said Faisal when contacted in Jakarta, Saturday.
"There are many consequences of a big impact, a big negative impact on the domestic economy, if it is carried out," he added.
Previously, the US Supreme Court ruled to overturn some of Trump's global tariff policies.
On Friday (20/2 local time), the US Supreme Court, by a 6-3 vote, ruled that President Donald Trump was not authorized to impose global tariffs under the International Emergency Economic Powers Act (IEEPA).
Faisal said Indonesia must also be vigilant considering the development of the ruling is still very dynamic and still uncertain.
"Because after being ruled out by the Supreme Court, Trump then tried to impose tariffs in another way, with another procedure or using other laws or regulations," said Faisal.
"So it means that the tariff can still be maintained even though it may not be as high as before," he added.
The import tariff is one of the main pillars of President Trump's "America First" agenda. According to him, this step is able to revive the manufacturing sector, create jobs, reduce national debt, and increase tax revenue.
The move is also seen as giving the US more leverage when negotiating concessions to partner countries.
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