U.S. saves five Indonesian products from export tariffs

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The United States dropped tariffs for five Indonesian products under a privilege trade facility as the two countries work on trade negotiations divulge by Indonesian officials.

Laminated plywood, thin plywood, dry onion, rattan handicrafts and artificial sugar, honey, and caramel are the products that the office of the U.S. Trade Representative has saved from tariffs.

Iman Pambagyo, head of the ministry department of International Trade Negotiations said the products were blotted out from the list of goods that get GSP facility because their exports had breached the U.S. competitive need limitations.

“Based on our request, the products were put back into (GSP),” Pambagyo said.

Indonesia plans to finish GSP negotiations fast and resolve conflicts with the U.S. within a month, according to the vice foreign minister of Indonesia. He also noted that retaining GSP could have a massive impact on trade with the U.S.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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