Indonesia seeks to limit impacts of US-China trade tension
Indonesia will soon impose import tariffs of up to 200% on Chinese goods to mitigate the effects of the ongoing trade tension between China and the US, according to Trade Minister Zulkifli Hasan.
Chinese toys are sold at the Pasar Raya in Padang, West Sumatra (Photo: ANTARA)
Jakarta (VNA) - Indonesia will soon impose import tariffs of up to 200% on Chinese goods to mitigate the effects of the ongoing trade tension between China and the US, according to Trade Minister Zulkifli Hasan.
The policy will take effect once the related regulation is issued, Zulkifli Hasan stressed, explaining that the trade tension is causing an oversupply in China, forcing them to redirect exports to other markets like Indonesia.
Tariffs on Chinese-made products would range from 100% to 200%, the minister noted.
A new ministerial regulation is being drafted to address concerns raised by stakeholders about the inadequacies of earlier regulations regarding protecting local industries from the influx of Chinese-made products.
Trade Minister Regulation No. 37 of 2023, the first of such regulations, established import control through a post-border mechanism and checks for imported products.
𝓡 However, in the current context of many new developments, it is necessary to build a more appropriate economic management mechanism to ensure the benefits of the domestic manufacturing industry and avoid the impact of trade competition between big countries, added Hasan./.
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