JAKARTA - The Coordinating Ministry for Economic Affairs (Kemenko) has confirmed that there will be further talks with the United States (US) following the Supreme Court (MA) which overturned US President Donald Trump's reciprocal tariff policy.
"There will be further talks between the two parties regarding all decisions taken and Indonesia will continue to prioritize national interests and needs in the future," said Spokesperson for the Coordinating Ministry for Economic Affairs Haryo Limanseto in an official statement reported by ANTARA, Saturday, February 21.
The US Supreme Court has decided 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).
However, shortly after the Supreme Court's ruling, Trump announced a "global import tariff" of 10 percent.
"Regarding the dynamics that occurred in the United States, mainly related to the continuation of the Agreement On Reciprocal Trade (ART) RI-US, in principle Indonesia will continue to observe the current developing conditions," said Haryo.
He said the continuation of ART still depends on the decision of both parties.
"This means that the Indonesian party also still needs the ratification process and this agreement has not come into force immediately, and the United States also needs the same process in its country with this latest development," he said.
Meanwhile, import tariffs are 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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