Indonesia to take measures in response to global trade tensions
The Indonesian Government is ready to make policy adjustments to anticipate any potential impact of the US-China trade tensions, with the adjustments to cover regulatory framework, public services, and business efficiency.
Investment and Downstreaming Minister Rosan Roeslani (Photo: en.antaranews.com)
Jakarta (VNA) 🌞- The Indonesian Government is ready to make policy adjustments to anticipate any potential impact of the US-China trade tensions, according to Investment and Downstreaming Minister Rosan Roeslani.
The adjustments will be made to maintain and increase the competitiveness of the national economy, the minister said on February 10.
There are three aspects to be adjusted, namely the regulatory framework, public services, and business efficiency, he stressed.
Rosan mentioned that the acceleration is done to attract more investors. He said this will allow Indonesia to take advantage of the trade war between the US and China. This is because Indonesia has advantages in natural resources that other Asian countries do not, such as mineral resources and efforts in the downstream industry of renewable energy.
Previously, the Chinese government announced that it will impose additional tariffs starting February 10 on imports from the US. This includes coal, LNG, crude oil, agricultural machinery, and large vehicles and pickup trucks.
China's move is a reaction to the recent US policy, as President Donald Trump signed an executive order to tax imports from Canada, Mexico, and China. The US imposed a 10% tariff on Chinese goods on top of the existing tariffs./.
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