By
Bloomberg
Published
July 3, 2024
Indonesia is preparing to impose tariffs and use other means to protect its textile industry from imports from China, the latest in a series of nations responding to the flood of goods from the world's largest manufacturing nation.
Local textile associations have called on the government to intervene after imports surged, hurting their businesses. The trade safeguards committee is investigating the matter and once it submits its report, the government will decide how to respond, Budi Santoso, director general of foreign trade at the Commerce Ministry, said on Monday.
It is unclear whether the government is considering imposing only safeguard duties or other tariffs as well, but last Thursday the Finance Ministry's fiscal policy chief said they were planning to reinstate safeguard duties on some textile products that had expired in November 2022.
On Friday, Trade Minister Zulkifli Hasan said Indonesia could impose tariffs of up to 200% on imports to protect local industries from cheap goods from countries such as China.
