August 2, 2025 | 06:47 pm
TEMPO.CO, Jakarta - Minister of Finance Sri Mulyani Indrawati met with the United States Embassy’s Chargé d’Affaires Ad Interim, Peter M. Haymond, at the Ministry of Finance office on Friday, August 1, 2025.
Haymond, who began his post in June, was assigned to strengthen the strategic partnership between the US and Indonesia.
Sri Mulyani said the meeting focused on economic cooperation between the two countries. “I explained Indonesia’s current efforts to foster a more business-friendly environment, including deregulation,” she wrote on her Instagram account @smindrawati, as quoted on Saturday, August 2, 2025.
She added that President Prabowo Subianto had instructed the government to streamline regulations and improve the investment climate.
This includes enhancing bureaucratic efficiency to attract more global investment and boost Indonesia’s competitiveness in the international market.
The former World Bank Managing Director noted that both parties agreed to strengthen collaboration and remain open to exploring new partnerships aligned with each country’s needs, particularly in the economic and development sectors.
“Ambassador Peter and I hope this partnership will continue to grow and contribute to mutual progress. We are committed to maintaining the long-standing strong relationship between the US and Indonesia,” she said.
Recently, the US government announced that Indonesian exports would face a 19 percent import tariff, while Indonesia will eliminate 99 percent of tariffs for US goods entering its market.
In a joint statement from both governments, they also pledged to address non-tariff barriers affecting trade and investment. This includes plans to exempt US companies and their products from local content requirements.
Coordinating Minister for Economic Affairs Airlangga Hartarto clarified that not all US products would be exempt from the Domestic Component Level (TKDN) rule.
“The exemption applies only to certain sectors such as telecommunications, information and communication, data centers, and medical equipment, and must still comply with technical import regulations,” he said during a press conference in Central Jakarta on Thursday, July 24, 2025.
Ongoing negotiations are currently underway for a possible reduction in the 19 percent import tariff on select Indonesian goods, with the possibility of lowering it to nearly zero percent. The new tariff will only take effect after negotiations conclude.
Meanwhile, the Ministry of Industry announced plans to revise TKDN regulations.
“This is not solely about the United States. Many other countries and products are involved. If we only focus on the US, that would be discriminatory,” said Alexandra Arri Cahyani, Head of the Public Relations Bureau at the Ministry of Industry, on Monday, July 28, 2025.
According to her, the updated TKDN policy will be issued through a new ministerial regulation.
Alfitria Nefi P contributed to the writing of this article.
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