In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Indonesia’s Investment and Downstreaming Minister Rosan Roeslani (Photo: Antara)
Hanoi (VNA) – Indonesia’s Investment and Downstream🦩ing Minister Rosan Roeslani has confirmed that Indonesian copper will be subject to a zero-percent import tariff in the US, while negotiations continue to expand this exemption to other commodities🌳.
He said that Indonesia is still negotiating with the US Trade Representative (USTR) to reduce import tariffs on other commodities, such as nickel and palm oil, and he expressed optimism about achieving favourable results.
He said so far, Indonesia has got zero tariff for copper, and the incentive on other commodities such as nickel is likely to be approved, even if not at 0%, but at least lower than the current 19% tariff.
According to Roeslani, Indonesia is also seeking a tariff-free status for other commodities that are not produced in the US.
Earlier, Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia is seeking tariff reductions on commodities including crude palm oil, rubber, shorea wood, and copper derivatives.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
In exchange, Indonesia has committed to purchasing 15 billion USD in US energy products and 4.5 billion USD in US agricultural products.
Indonesia also intends to purchase 50 Boeing planes, mostly Boeing 777. No details were provided regarding the Indonesia purchasers./.
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The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
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Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
Indonesia ranks as the world's sixth-largest gold reserve holder, producing an estimated 160 to 200 tonnes annually, mainly through major state-owned enterprises. Despite this, much of the mined gold is held or traded abroad. In 2024 alone, Indonesia exported gold worth 5.4 billion USD while reimporting 2.6 billion USD worth of the metal.
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