JAKARTA – Indonesia and the United States signed a trade pact on Feb 19, finalising a 19 per cent tariff on most Indonesian exports to the US, as well as a pledge by the South-east Asian country to purchase about US$33 billion (S$42 billion) worth of American goods.
Indonesian textile exports – up to a volume to be decided – are set to receive a zero per cent tariff, which Coordinating Minister for Economic Affairs Airlangga Hartarto touted as a coup for the four million Indonesian workers in the textile industry.
“Access to the US market is good, as Indonesia is planning to expand textile industry exports from around US$4 billion to US$40 billion in the next 10 years,” Mr Airlangga said at a press conference after the signing of the deal in Washington on Feb 19.
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Source: https://www.straitstimes.com/asia/se-asia/indonesia-us-sign-trade-deal-finalising-19-per-cent-tariff-rate-and-no-levy-on-goods-like-coffee
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