Following last week’s announcement of a trade deal between Indonesia and the U.S., on July 22 the two countries released a joint statement on the framework for negotiating the anticipated agreement. The statement confirms that the agreement will build upon the existing U.S.-Indonesia Trade and Investment Framework Agreement of 1996 and discloses some details of the deal that were not included in the initial announcement. The joint statement indicates the trade agreement will be negotiated…
On July 15, President Trump turned to social media to announce a new trade agreement between the United States and Indonesia. The agreement, the third trade deal the U.S. administration has announced since the announcement of the “Liberation Day” tariffs, establishes a 19% duty on Indonesian imports to the United States, while U.S. goods will enjoy duty-free access to Indonesian markets including a potential non-tariff barrier elimination. The announcement also discloses that Indonesia has committed…
On July 7, President Trump announced revised tariffs rates for certain trading partners that will take effect on August 1 and extended the postponement of his “Liberation Day” tariffs. The revised tariffs were announced via letters to 14 countries and range from 25% to 40%. These actions come mere days before President Trump’s reciprocal tariffs, which were paused to allow for the negotiation of bilateral trade agreements, were due to resume on July 9 for…
Indonesian Ministry of Trade (MOT) issued a Regulation No. 36 of 2023 on Import Policy and Import Arrangement (“MOT Regulation 36”), which tighten the flow of imported goods into Indonesia through import restrictions. After MOT Regulation 36 started effective on 10 March, there have been business disruptions due to black-out period, difficult requirements to obtain the import approval and longer lead times for customs clearance (piling up of containers at the port) – eventually affecting…
The Indonesian government is currently trying to tighten the flow of imported goods into Indonesia. As part of that effort, the government aims to further amend Minister of Trade Regulation No. 25 of 2022 on Amendment of Minister of Trade Regulation No. 20 of 2021 on Policy and Arrangements of Import (“MOT Regulation No.25/2022”). The revision involves changing the import trading system for several types of commodities from “post-border” to “border”. The difference between the…
Baker McKenzie’s Global Compliance News Blog published “Indonesia: New regulation on self-consumed imported goods: what Indonesian importers should consider,” which can be viewed here.
Baker McKenzie’s International Commercial & Trade Blog published “Regional Comprehensive Economic Partnership Agreement (RCEP),” which can be viewed here.
Baker McKenzie’s Global Compliance News Blog published “Indonesia: New Integrated Import Guidelines” which can be viewed here.
Baker McKenzie’s InsightPlus published “Indonesia: Government simplifies the regulations on goods prohibited for export and import,” which can be viewed here.
Baker McKenzie’s Insight+ Blog published “Indonesia: Economic opportunities arise with Indonesia-European Free Trade Association Comprehensive Economic Agreement,” which can be viewed here.