Indonesia has pledged to increase its imports from the United States by up to US$19 billion, including US$10 billion in energy purchases and make other trade concessions, as part of a broader strategy to stave off looming tariffs from Washington.
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Chief Economic Minister Airlangga Hartarto outlined the plan to reporters on Friday morning, following high-level bilateral trade talks in Washington, where he and other senior Indonesian officials met their US counterparts.
He said the proposed imports would include agricultural products such as wheat, soybeans and soybean meal, along with capital goods intended for industrial rather than consumer use.
Indonesia will also work on enhancing investments in its critical minerals sector and simplifying procedures related to the imports of American horticultural products.
“We will also facilitate American companies that have been operating in Indonesia, related to permits and incentives,” Airlangga said.
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The announcement comes after Indonesia’s President Prabowo Subianto said last week that his government would reform restrictive import quotas and local content requirements – a move aimed at addressing the 32 per cent tariff imposed on Indonesian exports to the US announced by President Donald Trump earlier this month. The tariff has been suspended for 90 days until July.