TEMPO.CO, Jakarta - The government is pushing for the acceleration of business cooperation between Indonesian entrepreneurs and American entrepreneurs to facilitate negotiations on import tariffs. The Coordinating Ministry for the Economy stated that several memoranda of understanding (MoUs) have been agreed upon.
Spokesperson for the Coordinating Ministry for the Economy, Haryo Limanseto, explained that these companies consist of private enterprises and State-Owned Enterprises (SOEs). "So, for now, the information we can provide is from the energy sector, involving Pertamina. Then, from the agricultural sector, there is the FKS Group. Also, from the Indonesian Textile Association (API) for cotton," he stated during a press conference at the Coordinating Ministry for Economic Affairs office, Lapangan Banteng Street, Jakarta, Wednesday, July 9, 2025.
Furthermore, other companies include PT Sorini Agro Asia Corporindo Tbk, which has made a trade agreement for corn. And the Indonesian Flour Mills Association (Aptindo) for corn imports.
However, he did not disclose the value of the MoUs. "Because this is business-to-business, and Indonesian parties themselves have conveyed that their business partners in the U.S. would be uncomfortable if the volume and other activities were disclosed," he said.
He added that other MoU agreements are still in process, and therefore, the details cannot be disclosed yet. The Coordinating Ministry for the Economy is waiting on the final agreements and data because this is a business-to-business process.
Indonesia is conducting negotiations with the U.S. government through two channels. Firstly, government-to-government (G2G), and secondly, business-to-business (B2B). The latter effort involves domestic companies that are dealing with American businessmen. Haryo explained that the government has pushed for the B2B scheme to be finalized, even before the American government announced new tariffs on Indonesia.
However, on July 7, 2025, President Donald Trump announced new tariffs on Indonesia and 13 other countries, which will take effect on August 1, 2025. As is known, the Indonesian government is promoting business transactions with the United States to reduce the trade deficit that the country is complaining about. The value of products to be imported from the U.S. is targeted to reach US$34 billion, exceeding the total trade deficit complained about by the country against Indonesia.
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