A senior Indonesian official said the country will soon impose import tariffs of up to 200% on Chinese goods to mitigate the impact of the ongoing trade rivalry between the two superpowers.
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| Tanjung Priok Port in Jakarta, Indonesia. (Source: JOC) |
Indonesian Trade Minister Zulkifli Hasan said on June 29 that the policy will take effect after relevant regulations are issued.
According to Mr. Zulkifli Hasan, trade competition is causing oversupply in China, leading the country to shift exports to other markets such as Indonesia.
Tariffs on Chinese-made products will range from 100 to 200 percent, Mr. Hasan noted.
The Commerce Department is drafting new regulations on tariff options to address concerns from stakeholders about the inadequacy of previous regulations regarding the protection of local industries from the wave of Chinese-made products.
According to Mr. Zulkifli Hasan, Regulation No. 37 of 2023 of the Minister of Commerce, has established control measures for imported goods through inspection mechanisms at border areas.
However, in the current context of many new developments, it is necessary to build a more suitable economic management mechanism to ensure the interests of domestic production and avoid the impact of trade competition between major countries.
Source: https://baoquocte.vn/indonesia-no-luc-tim-cach-ne-ten-roi-dan-lac-tu-thuong-chien-my-trung-quoc-276889.html
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