Indonesian firms worried about import fallout from US policy
Indonesian steel corporations have voiced their concern over the US’s new steel and aluminum import policy, which can make the Southeast Asian nation flooded with an influx of steel products from other countries.
Indonesian steel corporations have voiced their concern over the US’s new steel and aluminum import policy. (Photo: krakatausteel.com)
Jakarta (VNA) – Indonesian steel corporations have voiced theirconcern over the US’s new steel and aluminum import policy, which can make theSoutheast Asian nation flooded with an influx of steel products from othercountries.
Director of the Krakatau steel company Purwono Widodo said that although thefirm does not export steel products to the US, the American country’s plan toimpose 25 percent tariffs on steel imports and 10 percent tariffs on aluminumimports may cause knock-on effect on the global market.
He has been worried about the entry of made-in-China steel products into theIndonesian market, especially when they are prevented from entering the USmarket. Other Southeast Asian nations may be affected as well.
Domestic steel products will experience unfair competitive edge with those fromChina if the export tax-free China steel floods the market, he added.
He hoped that the Indonesian Government will introduce measures to protectlocal steel industry such as ratifying regulations on the use of local productsor local content requirements for steel products.
Earlier, the Indonesia National Standard (SNI) on steel imports has takeneffect in the country. Also, it applied Decision No 82 to reduce steel importsto the country from the outset of 2017.
US President Donald Trump will announce his decision on the heavy tariffsimposed on imported steel and aluminum products this week. Earlier, hisgovernment slapped steep tariffs on imported solar panels and washingmachines.-VNA
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Indonesian steel corporations have voiced their concern over the US’s new steel and aluminum import policy. (Photo: krakatausteel.com) 
