JAKARTA, July 13 (Xinhua) -- Indonesia has prepared to bargain with the United States in anticipation of possible revocation of its Generalized System of Preferences (GSP) due to U.S. trade deficit with the country.
Speaking in his office on Friday, Coordinating Minister for Economy Affairs Darmin Nasution said the offers would include insurance, National Payment Gate (GPN) system, intellectual rights, data processing center and farming sector.
He pointed out that the government wanted to see the U.S. GSP program that exempts tariff for Indonesian products remain in place as it involved various export items.
"So if we export our GSP-listed products there, the tariff will remain zero. We will try our best to ensure it still works," he added.
Under the order of President Donald Trump, the United States Trade Representative (USTR) is now progressing plans to review the GSP facilities after it posted trade deficit with Indonesia in past several years.
The renewal of Indonesia's GSP in the United States that exempts tariffs for 124 Indonesian products was reportedly to be decided in November.
Indonesia will send a delegation to meet with the USTR later this month over its review of Indonesia's GSP.