In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Indonesia’s Investment and Downstreaming Minister Rosan Roeslani (Photo: Antara)
Hanoi (VNA) – Indonesia’s Investment and Downstreaming Minister Rosan Roeslani has confirmed that Ind🦋onesian copper will be subject to a zero-percent import tariff in the US, while negotiations continue to expand this exemption to other commodities.
He said that Indonesia is still negotiating with the US Trade Representative (USTR) to reduce import tariffs on other commodities, such as nickel and palm oil, and he expressed optimism about achieving favourable results.
He said so far, Indonesia has got zero tariff for copper, and the incentive on other commodities such as nickel is likely to be approved, even if not at 0%, but at least lower than the current 19% tariff.
According to Roeslani, Indonesia is also seeking a tariff-free status for other commodities that are not produced in the US.
Earlier, Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia is seeking tariff reductions on commodities including crude palm oil, rubber, shorea wood, and copper derivatives.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
In exchange, Indonesia has committed to purchasing 15 billion USD in US energy products and 4.5 billion USD in US agricultural products.
Indonesia also intends to purchase 50 Boeing planes, mostly Boeing 777. No details were provided regarding the Indonesia purchasers./.
As many factories operating in Indonesia are currently lithium-based, an official of the Ministry of State-Owned Enterprises has asked for support from other ministries to provide incentives for the shift to nickel-based batteries in the country.
Indonesia will begin disbursing a monthly incentive of 30 million IDR (roughly 1,800 USD) to doctors working in remote regions, in a bid to reduce healthcare disparities and attract specialist talent to underserved areas.
Traffic congestion in Bali, particularly on the route from I Gusti Ngurah Rai International Airport to major tourist destinations, has become increasingly severe. With the introduction of a water taxi service, visitors will be able to travel directly from the airport to Canggu without being caught in traffic.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
Indonesia ranks as the world's sixth-largest gold reserve holder, producing an estimated 160 to 200 tonnes annually, mainly through major state-owned enterprises. Despite this, much of the mined gold is held or traded abroad. In 2024 alone, Indonesia exported gold worth 5.4 billion USD while reimporting 2.6 billion USD worth of the metal.
Cambodia and Thailand vowed not to undertake provocative actions that may escalate tensions, including entering the other side’s air space and territory, and refrain from constructing or enhancing military infrastructure.
Trenggono emphasised that the Indonesian government aims to increase the total coverage of MPAs to 97.5 million hectares by 2045. This initiative forms a key component of the “Golden Indonesia 2045” vision, which prioritises sustainable maritime development and environmental protection.
