Indonesia, US to resume tariff talks in Nov

Indonesia and the United States are set to restart negotiations over a reciprocal tariff deal in November after a delay caused by the recent U.S. government shutdown.

Coordinating Economic Minister Airlangga Hartarto confirmed that most issues had been settled, with only legal drafting still under discussion.

The next round of talks is expected to take place after the APEC Economic Leaders' Meeting in South Korea, where the Presidents of both countries are attending.

A major point of discussion is the list of commodities exempted from tariffs. Airlangga said Indonesia could receive terms similar to those for Malaysia in its recent agreement with the U.S., including zero tariffs on products the U.S. does not produce domestically, such as palm oil, cocoa, and rubber. Indonesia has also requested exemptions for medical supply chain goods and other key industries.

The proposed tariff framework outlines a 19% duty on Indonesian exports to the U.S., a 99% tariff elimination for U.S. goods entering Indonesia, and additional trade concessions. Both countries have expressed confidence that the upcoming round of talks will lead to a final agreement.