add_action('wp_footer', function () { echo ''; }, 99); US Arsip - todayinasian.com https://todayinasian.com/tag/us/ Wed, 19 Aug 2026 05:17:05 +0000 en-GB hourly 1 https://wordpress.org/?v=7.1 Trump Demands Iran Surrender as Tehran Claims Victory https://todayinasian.com/international/trump-demands-iran-surrender-as-tehran-claims-victory/ https://todayinasian.com/international/trump-demands-iran-surrender-as-tehran-claims-victory/#respond Wed, 19 Aug 2026 05:17:05 +0000 https://todayinasian.com/?p=2629 U.S. President Donald Trump has renewed his call for Iran to surrender, while Tehran has delivered a defiant response, claiming it has already prevailed in both the war and the diplomatic battle. According to detikNews, Iranian Foreign Minister Abbas Araghchi made the assertion on Tuesday, August 18, after Trump publicly urged Tehran to raise the […]

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U.S. President Donald Trump has renewed his call for Iran to surrender, while Tehran has delivered a defiant response, claiming it has already prevailed in both the war and the diplomatic battle. According to detikNews, Iranian Foreign Minister Abbas Araghchi made the assertion on Tuesday, August 18, after Trump publicly urged Tehran to raise the “white flag” and end the conflict.

Araghchi said Iran had resisted what he described as overwhelming military pressure and eventually forced its opponents to consider negotiations. He argued that countries that initially demanded Iran’s “unconditional surrender” later changed their approach and sought diplomatic discussions instead. “Those who demanded unconditional surrender, shortly after the war began, were begging to negotiate,” Araghchi said, according to detikNews’ report, which cited Anadolu Agency and TRT World.

The Iranian foreign minister portrayed the conflict as a test of national endurance. He said Tehran had continued fighting for days against what he characterized as “the largest military power in the world,” while receiving support from countries across the West and beyond the region. In his account, Iran ultimately negotiated from a position of strength rather than under pressure.

Read More: Iran Says US Is Begging to Resume Negotiations With Tehran

“We fought with strength, and we negotiated with strength,” Araghchi said. He added that several foreign ministers had told him, “You have won both the war and diplomacy.”

Trump, meanwhile, has maintained a dramatically different position. In a phone interview with Fox News on Monday, he said Iran should “raise the white flag” and surrender. His remarks came as efforts to revive peace negotiations appeared to be stalled.

The latest confrontation follows the collapse of an earlier U.S.-Iran understanding. A memorandum signed in June called for an immediate and permanent halt to military operations and gave both countries up to 60 days to negotiate a broader agreement, including issues surrounding Iran’s nuclear program. Trump later declared the arrangement “over” on July 7, while Iran described it as suspended a week afterward.

The 60-day deadline expired on August 17 without a final agreement, leaving the diplomatic track uncertain. Trump’s surrender demand and Araghchi’s declaration of victory now illustrate just how far apart Washington and Tehran remain, with both sides presenting the confrontation through sharply different lenses.

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Mamdani Says NYC Can’t Arrest Netanyahu, Urges US Action https://todayinasian.com/international/mamdani-says-nyc-cant-arrest-netanyahu-urges-us-action/ https://todayinasian.com/international/mamdani-says-nyc-cant-arrest-netanyahu-urges-us-action/#respond Wed, 22 Jul 2026 13:28:13 +0000 https://todayinasian.com/?p=2547 INTERNATIONAL – New York City Mayor Zohran Mamdani has acknowledged that the city does not have the legal authority to enforce an International Criminal Court (ICC) arrest warrant against Israeli Prime Minister Benjamin Netanyahu, but he has called on the U.S. federal government to take action instead. According to The Hindu, Mamdani made the comments […]

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INTERNATIONAL – New York City Mayor Zohran Mamdani has acknowledged that the city does not have the legal authority to enforce an International Criminal Court (ICC) arrest warrant against Israeli Prime Minister Benjamin Netanyahu, but he has called on the U.S. federal government to take action instead. According to The Hindu, Mamdani made the comments as the debate over Netanyahu’s possible visit to New York intensifies ahead of the United Nations General Assembly in September.

In a video posted on social media, Mamdani described Netanyahu as a “war criminal” and said the Israeli prime minister was not welcome in New York City. The mayor explained that his administration had examined the legal options available before concluding that city authorities could not independently carry out the ICC warrant. “It is clear that we do not have the independent legal authority to enforce this warrant,” Mamdani said. “The federal government however does and I call on them to join the ICC and execute this warrant.”

Mamdani’s position represents a shift from comments he made earlier in the month, when he said he and New York City’s legal department were examining whether the city could arrest Netanyahu if he traveled to Manhattan for the U.N. gathering. During his mayoral campaign last year, Mamdani had repeatedly pledged that he would seek to enforce the ICC warrant if Netanyahu entered New York.

Read More: Trump Warns Iran as Hormuz Crisis Sparks New US Strikes

The issue has drawn a strong response from U.S. President Donald Trump, who said in a social media post that Netanyahu “will not be arrested, in any way, shape, or form, while in the United States of America.” Although Trump did not directly mention Mamdani, his statement came amid the growing controversy surrounding the mayor’s earlier position.

Israel’s ambassador to the United Nations, Danny Danon, also criticized Mamdani’s comments. “Enough,” Danon said, accusing the mayor of focusing on Hamas-related propaganda rather than his responsibilities to New Yorkers. “You were elected to serve New Yorkers, not Hamas’ propaganda. Do your job!” he added.

The ICC issued arrest warrants for Netanyahu and former Israeli Defense Minister Yoav Gallant in 2024 over alleged crimes against humanity connected to the war in Gaza. The court cited allegations including the use of starvation as a method of warfare and the intentional targeting of civilians, accusations that Israeli officials have rejected.

As reported by The Hindu, the dispute highlights the complicated intersection of international law, U.S. federal authority, and local political power, with Netanyahu’s potential September visit likely to keep the issue at the center of political debate.

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Loan Losses, Fraud Claims Trigger Sell-Off in U.S. Stocks https://todayinasian.com/business/loan-losses-fraud-claims-trigger-sell-off-in-u-s-stocks/ https://todayinasian.com/business/loan-losses-fraud-claims-trigger-sell-off-in-u-s-stocks/#respond Sat, 18 Oct 2025 05:45:19 +0000 https://todayinasian.com/?p=1576 BUSINESS – U.S. equity futures fell sharply as new revelations of bad loans and alleged fraud at regional banks reignited concerns about credit quality and financial stability. The sell-off came amid broader market unease over global trade tensions and rising bond yields, amplifying volatility across sectors. The latest wave of anxiety began when Zions Bancorporation […]

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BUSINESS – U.S. equity futures fell sharply as new revelations of bad loans and alleged fraud at regional banks reignited concerns about credit quality and financial stability. The sell-off came amid broader market unease over global trade tensions and rising bond yields, amplifying volatility across sectors.

The latest wave of anxiety began when Zions Bancorporation reported heavy losses tied to two commercial and industrial loans, while Western Alliance Bank disclosed that it had filed fraud claims against one of its borrowers, Cantor Group V, LLC. These developments revived fears that weaker lending standards could be spreading within the regional banking system echoing memories of the 2023 turmoil that toppled several midsized lenders.

Bank shares took the brunt of the blow. The KBW Regional Bank Index dropped more than 6% earlier in the week before attempting a modest rebound. Analysts described investor sentiment as fragile, warning that uncertainty over credit exposure could linger for weeks.

Read More: Stocks, Dollar Slide After Trump Warns of 100% China Tariffs

Outside the financial sector, investors moved defensively. U.S. Treasury yields declined as traders sought safety in government bonds, while the dollar slipped slightly. Equity valuations already stretched after months of gains left many fund managers wary of additional downside shocks.

Market strategists say that the fresh credit concerns add another layer of complexity to an environment already challenged by inflation pressures and shifting interest-rate expectations. Some analysts caution that the situation could escalate if more lenders reveal hidden losses or fraud-related write-downs. Others argue that large, well-capitalized banks are likely to contain the damage and prevent systemic contagion.

While comparisons to the 2023 regional banking crisis have resurfaced, most experts believe today’s problems remain more localized. However, the swift and sharp market reaction underscores how sensitive investors remain to any hint of balance-sheet weakness.

In essence, the renewed spotlight on regional banks has reminded markets that latent credit risks can still ripple through the financial system. Investors now await upcoming earnings and regulatory updates to determine whether these tremors signal deeper fractures or just another brief bout of market nerves.

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Prabowo‑Trump Tariff Deal: A Win with Hidden Costs https://todayinasian.com/business/prabowo%e2%80%91trump-tariff-deal-a-win-with-hidden-costs/ https://todayinasian.com/business/prabowo%e2%80%91trump-tariff-deal-a-win-with-hidden-costs/#respond Sat, 19 Jul 2025 14:21:24 +0000 https://todayinasian.com/?p=1276 BUSINESS – Indonesian President Prabowo Subianto and U.S. President Donald Trump have clinched a tariff agreement that freezes U.S. tariffs on Indonesian exports at 19%—a significant reduction from the previously threatened 32% – while U.S. goods enter Indonesia tariff-free. The deal, confirmed in a call between Trump and Prabowo, reflects intense diplomacy and high-stakes negotiations […]

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BUSINESS – Indonesian President Prabowo Subianto and U.S. President Donald Trump have clinched a tariff agreement that freezes U.S. tariffs on Indonesian exports at 19%—a significant reduction from the previously threatened 32% – while U.S. goods enter Indonesia tariff-free. The deal, confirmed in a call between Trump and Prabowo, reflects intense diplomacy and high-stakes negotiations aiming to defuse the looming threat of punitive tariffs set to take effect August 1.

As part of the agreement, Indonesia has pledged to purchase 50 Boeing jets, and invest heavily in American energy ($15 billion) and agricultural products ($4.5 billion). Trump heralded the pact as opening U.S. access to Indonesia’s vast market, adding that “they are going to pay 19% and we are going to pay nothing,” while enjoying “full access to Indonesia”.

Domestically, Prabowo portrayed the accord as ushering in a “new era” of bilateral ties, praising the deal as a diplomatic success for Indonesia. Economic analysts echoed this sentiment, noting that the moderated tariff rate leaves Indonesia better positioned than other Southeast Asian countries under Trump’s trade policies.

However, experts warn of substantial trade-offs. While energy and agricultural sectors stand to gain, labor-intensive industries like footwear and textiles may still suffer from the 19% levies. And the deal does nothing to curb collateral damage from broader U.S. tariffs on China—Indonesia’s main trading partner—a factor that could dampen growth.

Read More: Teen Vandal Faces 15-Year Sentence for Stone Throw at KRL

Emerging voices from academic and policy circles also question the fallout. According to Dr Siwage Dharma Negara of ISEAS, while Prabowo and Trump have sealed the deal, “at what cost to Indonesia?”. Concerns focus on the risk that Indonesia may be sacrificing trade diversification and exposure to geopolitical instability in favor of short-term tariff relief. A side effect of the deal is that Indonesia has tied up significant resources purchasing U.S. goods, raising questions about long-term fiscal consequences and overreliance on strategic concessions. While the agreed volume of Boeing jets and energy purchases may stimulate specific sectors, it may bypass broader structural growth.

The 19% tariff, although an improvement, means Indonesia remains subject to a higher threshold than the global average—suggesting that competitiveness across sectors such as electronics or processed goods could still be constrained. Importantly, the deal’s broader context—amid Trump’s escalating tariffs on multiple trading partners such as the EU and Japan—raises concerns that Jakarta may find itself caught in a geopolitical trade turbulence.

While financial markets initially responded positively—the Indonesian stock index rose roughly 0.7%—analysts caution that long-term benefits depend on Indonesia’s ability to shield itself from future external shocks. Critics argue Jakarta must now intensify efforts toward export diversification, domestic industry upgrading, and broader trade partnerships—like the pending EU‑Indonesia agreement.

The tariff accord thus represents a diplomatic victory, but one entangled with strategic compromises. As Indonesia braces for higher bills on consumer imports and allocates resources toward pledged U.S. purchases, the true measure of success will lie in balancing short-term relief with sustainable economic resilience amid a volatile global trade landscape.

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Zohran Mamdani Leads NYC Race, Sparks Trump Backlash https://todayinasian.com/international/zohran-mamdani-leads-nyc-race-sparks-trump-backlash/ https://todayinasian.com/international/zohran-mamdani-leads-nyc-race-sparks-trump-backlash/#respond Thu, 26 Jun 2025 14:08:01 +0000 https://todayinasian.com/?p=1202 INTERNATIONAL – Zohran Mamdani, a 33-year-old Democratic Socialist and Muslim state assemblyman, has surged to a leading position in the New York City mayoral race, prompting sharp criticism from former President Donald Trump. Mamdani, born in Uganda to parents of Indian descent, has channeled grassroots support with a bold progressive agenda centered on affordability and […]

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INTERNATIONAL – Zohran Mamdani, a 33-year-old Democratic Socialist and Muslim state assemblyman, has surged to a leading position in the New York City mayoral race, prompting sharp criticism from former President Donald Trump. Mamdani, born in Uganda to parents of Indian descent, has channeled grassroots support with a bold progressive agenda centered on affordability and equity.

His campaign platform includes free city buses, universal childcare, rent freezes, and city-owned grocery stores—all funded through higher taxes on corporations and the wealthy. These policies have drawn endorsements from figures like Alexandria Ocasio-Cortez and Senator Bernie Sanders, and have resonated strongly with voters under 45, 52% of whom support him versus just 18% for former Governor Andrew Cuomo.

Despite historical Islamophobia—Iraq War backlash and the divisive rhetoric of post-9/11 politics—Mamdani’s candidacy marks a significant shift in New York City’s political culture. As one Washington Post column noted, his rise symbolizes “a new generation of inclusive politics,” reflecting broader societal acceptance of Muslim leaders.

Yet his ascent has ignited fierce backlash. Trump took to social media after Mamdani’s primary lead emerged, labeling him “a 100% Communist Lunatic,” and dismissing his appearance, voice, and competence. Trump added, “We’ve had Radical Lefties before, but this is getting a little ridiculous.” He also criticized prominent Democrats tied to Mamdani, including Ocasio-Cortez and Senator Chuck Schumer, accusing them of endorsing “radical” positions.

Read More: Tsutomu Ogura Quits as Singapore Coach Citing Personal Issues

Mamdani was unfazed. He previously described himself as “Donald Trump’s worst nightmare, as a progressive, Muslim immigrant who actually fights for the things that I believe in,” showcasing his political resolve.

His campaign, built on small donations and public matching funds rather than billionaire-backed super PACs, reflects his grassroots identity. Meanwhile, he’s also faced Islamophobic threats—including a police investigation into a voicemail threatening to bomb his car—emphasizing the vitriol still accompanying his rise.

The Democratic primary, conducted under ranked-choice voting, intensifies as Mamdani challenges Cuomo and Comptroller Brad Lander—who was recently detained by ICE while defending an immigrant in court. With early voting underway, the contest is shaping into a referendum on generational change, progressive policymaking, and inclusive leadership.

Mamdani’s campaign embodies a broader transformation within the Democratic Party, spotlighting tensions between establishment and progressive wings and affirming his status as a formidable candidate with national resonance.

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US-China Agree on 10% Tariff Reduction https://todayinasian.com/business/us-china-agree-on-10-tariff-reduction/ https://todayinasian.com/business/us-china-agree-on-10-tariff-reduction/#respond Wed, 14 May 2025 05:04:51 +0000 https://todayinasian.com/?p=1054 BUSINESS – After two days of intensive negotiations in Geneva, the United States and China have reached a significant agreement to reduce import tariffs, aiming to ease ongoing trade tensions. As reported by Kompas.com, both nations have consented to lower their respective tariffs to a baseline of 10%, effective for a 90-day period starting May […]

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BUSINESS – After two days of intensive negotiations in Geneva, the United States and China have reached a significant agreement to reduce import tariffs, aiming to ease ongoing trade tensions. As reported by Kompas.com, both nations have consented to lower their respective tariffs to a baseline of 10%, effective for a 90-day period starting May 14, 2025. This temporary measure is intended to provide relief to businesses and consumers affected by the prolonged trade dispute.

Prior to this accord, the U.S. had imposed tariffs as high as 145% on Chinese goods, while China had retaliated with tariffs up to 125% on American products. The new agreement reduces U.S. tariffs to 30%, comprising a 10% baseline levy and an additional 20% specifically targeting concerns related to fentanyl imports. China, in turn, has lowered its tariffs on U.S. goods to 10% and agreed to suspend certain non-tariff countermeasures implemented since April 2025.

This development has been met with cautious optimism. Chinese exporters, particularly those in manufacturing hubs like Yiwu and Dongguan, are exploring strategies such as establishing U.S.-based warehouses or relocating production to other countries to mitigate potential future disruptions. Analysts suggest that exporters may use this 90-day window to expedite shipments before any new restrictions are imposed.

Read More: Gold Demand in Singapore Soars Amid Global Uncertainty

While the agreement marks a de-escalation in the trade war, uncertainties remain. Chinese officials have expressed skepticism about the durability of the truce, citing concerns over potential policy reversals. Public sentiment in China is mixed, with some viewing the agreement as a positive step, while others remain wary of U.S. intentions.

In the United States, the agreement has been interpreted by some as a strategic retreat from previously aggressive trade policies. President Trump described the deal as a “total reset,” though critics argue that it reflects a concession to mounting domestic and international pressures.

Economists and market analysts have offered varied perspectives on the agreement’s impact. Some believe it could boost consumer and investor confidence, while others caution that the temporary nature of the deal may not provide long-term stability. The consensus is that while the agreement mitigates immediate risks, long-term uncertainties persist.

As the 90-day period unfolds, both nations are expected to continue negotiations to address underlying trade issues. The outcome of these discussions will be critical in determining whether a more permanent resolution can be achieved.

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Trump Import Tariffs Causing Mazda Sales to Increase https://todayinasian.com/business/trump-import-tariffs-causing-mazda-sales-to-increase/ https://todayinasian.com/business/trump-import-tariffs-causing-mazda-sales-to-increase/#respond Sun, 11 May 2025 14:51:32 +0000 https://todayinasian.com/?p=1041 BUSINESS – Mazda has experienced a notable increase in vehicle sales in the U.S., driven by consumers’ urgency to purchase before the implementation of new import tariffs. According to a report by SINDOnews, the announcement of a 25% tariff on imported vehicles by President Donald Trump led to a significant uptick in Mazda’s sales, particularly […]

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BUSINESS – Mazda has experienced a notable increase in vehicle sales in the U.S., driven by consumers’ urgency to purchase before the implementation of new import tariffs. According to a report by SINDOnews, the announcement of a 25% tariff on imported vehicles by President Donald Trump led to a significant uptick in Mazda’s sales, particularly for models like the Mazda CX-50, which is manufactured in Mexico.

The surge in sales is attributed to consumers’ anticipation of price hikes due to the tariffs, prompting them to expedite their purchases. This behavior was not unique to Mazda; other automakers such as Toyota, Hyundai, and Honda also reported increased sales during this period. Industry analysts suggest that the looming tariffs created a sense of urgency among buyers, leading to a temporary boost in the automotive market.

The 25% import tariff, effective from April 3, 2025, applies to vehicles and automotive parts manufactured outside the U.S., including those from Canada, Mexico, and China. This policy aims to encourage domestic manufacturing and reduce reliance on foreign-produced vehicles. However, it has also raised concerns about potential price increases for consumers and disruptions in the automotive supply chain.

Read More: US-China Chip War Threatens Nvidia’s Future

In response to the tariffs, some automakers are considering adjustments to their production and supply strategies. For instance, Honda has announced plans to shift production of certain models to U.S. facilities to mitigate the impact of the tariffs. Similarly, Toyota and Honda are collaborating on a new battery plant in North Carolina to support hybrid vehicle production, demonstrating a strategic move to localize manufacturing and reduce tariff exposure.

While the immediate effect of the tariffs has been a boost in sales due to consumer urgency, the long-term implications for the automotive industry remain uncertain. Manufacturers may face challenges in adjusting their operations, and consumers could experience higher vehicle prices as the tariffs take full effect. The situation underscores the complex interplay between trade policies and market dynamics in the global automotive sector.

Source: SINDOnews

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US-China Chip War Threatens Nvidia’s Future https://todayinasian.com/international/us-china-chip-war-threatens-nvidias-future/ https://todayinasian.com/international/us-china-chip-war-threatens-nvidias-future/#respond Wed, 07 May 2025 09:18:40 +0000 https://todayinasian.com/?p=1037 INTERNATIONAL – The escalating technology conflict between the United States and China has intensified with Washington’s latest export restrictions on advanced AI chips, posing significant challenges for Nvidia. The U.S. government has expanded its licensing requirements, effectively barring the sale of high-performance chips like the A100, H100, and even the China-specific A800 to Chinese entities […]

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INTERNATIONAL – The escalating technology conflict between the United States and China has intensified with Washington’s latest export restrictions on advanced AI chips, posing significant challenges for Nvidia. The U.S. government has expanded its licensing requirements, effectively barring the sale of high-performance chips like the A100, H100, and even the China-specific A800 to Chinese entities without special approval.

Nvidia’s Chief Financial Officer, Colette Kress, expressed concerns over the long-term implications of these restrictions, stating, “Over the long term, restrictions prohibiting the sale of our data centre graphic processing units to China… would result in a permanent loss of opportunities for the US industry to compete and lead in one of the world’s largest markets.”

The impact of these measures is already evident. Nvidia’s stock experienced a 1.8% decline following the announcement. While the company has attempted to navigate previous restrictions by introducing the A800 chip tailored for the Chinese market, the new rules threaten even these adaptations.

Read More: Huawei Challenges Nvidia Amid US Export Bans

In response to the tightening U.S. export controls, Chinese tech giant Huawei has accelerated the development and deployment of its own AI chips. The company recently unveiled the CloudMatrix 384 AI chip cluster, which, despite higher energy consumption and operational costs, offers a domestic alternative to Nvidia’s offerings.

The U.S. government’s rationale for these restrictions centers on national security concerns, aiming to prevent China’s military from leveraging advanced AI capabilities. Commerce Secretary Gina Raimondo emphasized the potential risks, stating, “AI can do tremendous and profound harm if it’s in the wrong hands and in the wrong militaries.”

As the U.S.-China tech rivalry intensifies, Nvidia faces the challenge of adapting to a rapidly shifting landscape. The company’s future in one of its largest markets remains uncertain, with broader implications for the global semiconductor industry.

Source: CNBC

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IMF Reveals Key Factors Behind US Dollar’s Strength https://todayinasian.com/business/imf-reveals-key-factors-behind-us-dollars-strength/ https://todayinasian.com/business/imf-reveals-key-factors-behind-us-dollars-strength/#respond Sat, 26 Apr 2025 13:26:44 +0000 https://todayinasian.com/?p=995 BUSINESS – The US dollar’s persistent strength has raised concerns globally, with the International Monetary Fund (IMF) shedding light on the underlying causes. According to the IMF, the dollar’s appreciation is primarily driven by the Federal Reserve’s aggressive interest rate hikes aimed at curbing inflation, coupled with geopolitical tensions such as the Russia-Ukraine conflict. These […]

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BUSINESS – The US dollar’s persistent strength has raised concerns globally, with the International Monetary Fund (IMF) shedding light on the underlying causes. According to the IMF, the dollar’s appreciation is primarily driven by the Federal Reserve’s aggressive interest rate hikes aimed at curbing inflation, coupled with geopolitical tensions such as the Russia-Ukraine conflict. These factors have led to a surge in demand for the dollar as a safe-haven asset, impacting emerging markets significantly.

Gita Gopinath, the IMF’s First Deputy Managing Director, stated, “The strengthening of the US dollar is a reflection of the global economic uncertainties and the Federal Reserve’s monetary policy stance. This has implications for emerging markets, which are experiencing capital outflows and currency depreciations.”

Read More: ​Indonesia to Boost U.S. Imports Amid Tariff Concerns

In Indonesia, the rupiah has felt the pressure, depreciating to levels around Rp16,000 per US dollar. Bank Indonesia Governor Perry Warjiyo acknowledged the global trend, noting that while all currencies are under pressure, the rupiah’s depreciation is relatively moderate compared to others.

He emphasized the importance of maintaining economic stability through coordinated fiscal and monetary policies.Finance Minister Sri Mulyani Indrawati highlighted the role of the state budget (APBN) as a shock absorber to mitigate external pressures. She emphasized the need for continued vigilance and proactive measures to safeguard the economy against global headwinds.

The IMF’s analysis underscores the interconnectedness of global economies and the ripple effects of major policy decisions in advanced economies. As the US dollar continues to exert its influence, emerging markets like Indonesia must navigate these challenges through prudent economic management and strategic policy interventions.

Source: CNBC Indonesia

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Indonesia to Boost U.S. Imports Amid Tariff Concerns https://todayinasian.com/business/indonesia-to-boost-u-s-imports-amid-tariff-concerns/ https://todayinasian.com/business/indonesia-to-boost-u-s-imports-amid-tariff-concerns/#respond Sat, 19 Apr 2025 02:44:17 +0000 https://todayinasian.com/?p=975 BUSINESS – Indonesia has announced plans to significantly increase imports from the United States, aiming to mitigate a potential 32% tariff on its exports. Chief Economic Minister Airlangga Hartarto, speaking from Washington, stated that the country intends to purchase up to $19 billion worth of U.S. goods, including approximately $10 billion in energy imports. This […]

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BUSINESS – Indonesia has announced plans to significantly increase imports from the United States, aiming to mitigate a potential 32% tariff on its exports. Chief Economic Minister Airlangga Hartarto, speaking from Washington, stated that the country intends to purchase up to $19 billion worth of U.S. goods, including approximately $10 billion in energy imports. This strategic move is designed to eliminate Indonesia’s trade surplus with the U.S. and avoid the threatened tariffs.

The proposed imports encompass a range of products, notably agricultural commodities such as wheat, soybeans, and soybean meal, as well as capital goods. Hartarto emphasized that this shift would involve reducing imports from other countries to accommodate the increased U.S. purchases.

Read More: Rupiah Emerges as Asia’s Strongest Currency

Industry stakeholders have expressed conditional support for the government’s decision. Ratna Sari Lopis, executive director of the Indonesian Wheat Flour Producers Association, stated, “We will support the government’s decision, as long as market prices and competitiveness are aligned.” In 2024, Indonesia sourced 40% of its wheat imports from Australia, 26% from Ukraine, 16% from Canada, and just under 4% from the U.S. Conversely, nearly 89% of Indonesia’s soybean imports originated from the U.S.

To facilitate this transition, Indonesia plans to streamline procedures related to American horticultural imports and simplify permitting and incentives for U.S. companies operating within the country. Additionally, discussions are underway to enhance cooperation on critical minerals.  These developments follow meetings between Indonesian officials and U.S. counterparts, including the U.S. Trade Representative and the Secretary of Commerce. Both nations have agreed to finalize negotiations within the next 60 days, during a 90-day pause on the proposed tariffs.

Indonesia’s proactive approach underscores its commitment to maintaining favorable trade relations with the U.S., while balancing domestic economic interests and international obligations.

Source: Reuters

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