April 23, 2025 | 10:00 pm
TEMPO.CO, Jakarta - The Indonesian Business Council (IBC) is confident that business cooperation between Asian and African countries is a strategic measure in the face of a budding trade war.
IBC Supervisor Arsjad Rasjid said there is an enormous gross domestic product (GDP) potential across the two regions, thus allowing a solid cooperation between Asia and Africa to offset global economic uncertainty.
“Indonesia must actively respond to international trade challenges by diversifying its economic partnerships. Asia and Africa are not just new markets, but strategic partners,” Arsjad said.
According to Arsjad, Africa has a number of great prospects, such as a demographic bonus and great potential for renewable energy. Meanwhile, Asia has experienced rapid economic growth through trade and industrialization.
Arsjad called for Asian and African governments to work together to advance the world economy and grow in a climate of healthy competition.
Trade war escalates between the United States and China, resulting in Trump raising tariffs on Chinese goods to a staggering 145 percent, with China retaliating with 125 percent levies on the U.S.
Trump explained that the decision to raise tariffs was driven by China's lack of respect for the global market. According to Trump, the trade model run by China has been unfair and cannot be allowed to continue.
Trump’s government also announced reciprocal tariffs on countries across the globe, including Indonesia.
An Indonesian delegation led by Coordinating Minister for Economic Affairs Airlangga Hartarto is still negotiating import tariffs with the U.S. government. The two countries have agreed that the discussion of reciprocal tariff issues will be completed within 60 days.
Ilona Estherina and Riani Sanusi contributed to this article.
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