Bandung, West Java, Aug. 5 -- Coordinating Minister for Economic Affairs Airlangga Hartarto stated that the 19 percent tariff agreement with the United States has prevented mass layoffs in Indonesia.
Hartarto explained that if the original 32 percent reciprocal tariff had remained in place, millions could have lost their jobs.
"If the 32 percent tariff were implemented, we could face five million layoffs. If the tariff is only 19 percent, there will be no layoffs. This is the important difference," he remarked on Tuesday.
Hartarto noted that the 19 percent reciprocal tariff policy agreed upon by Indonesia and the US for Indonesian goods entering the US has significantly altered the import tariffs applied to US goods entering Indonesia....
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