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.
Editor’s Choice: 8 Trade Barriers in Indonesia According to the US
Click here to get the latest news updates from Tempo on Google News
From Trump to Lula, World Leaders Will Fly to Vatican for Pope Francis' Funeral
1 jam lalu
A score of high-ranking figures will attend the funeral of Pope Francis at St. Peter's Basilica, Vatican, on Saturday, April 26, 2025.
Rupiah Falls to Rp 16,871.5 This Afternoon as BI Hold Interest Rates Amid Trade Tensions
3 jam lalu
Rupiah is expected to remain volatile in tomorrow's trading but will likely end lower within the range of Rp16,860-Rp16,940.
Why Are People Buying More Gold Despite Soaring Prices? Researcher Explains
4 jam lalu
Gold prices have surged, but demand remains high as people view it as a safe investment amid global uncertainty and low interest rates.
Nintendo Switch 2 Pre-Orders Open April 24 After Tariff Delay, Launch Still Set for June 5
5 jam lalu
Originally scheduled for April 9, 2025, Nintendo's pre-order date was postponed to assess the potential impact of the ongoing tariff war.
As Tesla Struggles, Elon Musk Plans to Step Away from Trump Administration
7 jam lalu
Elon Musk announced that he will gradually reduce his involvement in the administration of Trump to dedicate more time to running Tesla.
Harvard Sues Trump Administration Over Federal Funding Freeze
9 jam lalu
Harvard University filed a federal lawsuit challenging the funding freeze imposed by the administration of U.S. President Donald Trump.
8 Trade Barriers in Indonesia According to the US
10 jam lalu
The trade barriers in Indonesia complained about by the US are stated in 2025 National Trade Estimate (NTE) Report on Foreign Trade Barriers document.
Indonesia Optimistic for 7.1 Percent Export Growth Despite U.S.-China Trade Tensions
22 jam lalu
The Indonesian government expressed optimism about achieving its 2025 national export target despite the ongoing U.S.-China trade war.
Unexpected Reunion: JD Vance Among Pope Francis' FInal Visitors
1 hari lalu
The article discusses the surprise meeting between Pope Francis and JD Vance, in light of their recent public disagreements on Trump's immigration policies.
Trump Pushes for US-Made iPhones, Analyst Warns of Skyrocketing Prices
1 hari lalu
A plan to produce the iPhone entirely in the United States is expected to triple the selling price of the device.
