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December 14, 2024 | 10:54 pm
TEMPO.CO, Jakarta - Bank Indonesia Governor Perry Warjiyo suggested that Indonesia could learn export-import strategies from Donald Trump, the newly elected President of the United States. Trump, who won the 2024 presidential election, has implemented high tariffs on imports to stimulate economic growth.
Perry highlighted that the US imposes these tariffs, particularly on countries with significant trade surpluses with the US, including China, Canada, Mexico, Europe, and Vietnam. For instance, tariffs on Chinese imports are set at a minimum of 25 percent.
“We need to learn from this. Although Indonesia’s trade surplus with the U.S. is not very large, we must understand how to establish agreements with the US,” Perry said during the seminar “Spurring Growth Towards an Advanced Indonesia” held at Menara BTN on Saturday, Dec. 14, 2024.
Balanced Trade, Not Reduced Imports
Perry argued that Indonesia does not need to reduce imports from the US or impose high tariffs. Instead, he suggested increasing imports from the US provided Indonesia also boosts its exports to maintain a balanced trade surplus.
“For example, if the surplus is IDR 1 billion, it should be reciprocal—IDR 1 billion each,” he explained.
He stated that a net surplus of IDR 1 billion would not be an issue as long as Indonesian exports remain strong. This approach, he believes, could drive the nation’s economic growth. “That’s the tactic. This is what we need to do,” he added.
Trump’s Economic Policies
Donald Trump is set to be inaugurated as the 47th President of the United States on Jan. 20, 2025, marking his second term in office. Perry noted that Trump’s high-tariff policy reflects his ambition to achieve robust economic growth for the US
“Trump’s motto is ‘America First,’” Perry said. “His priority is America. As long as it leads to high economic growth for the US, he’ll pursue it.”
In addition to high import tariffs, Perry mentioned that Trump plans to enforce stringent immigration policies. Under Trump’s administration, foreign workers without proper documentation will face deportation. Perry explained that this policy aims to ensure that jobs in the U.S. are filled by American workers.
RIRI RAHAYU
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