A new trade agreement between the US and Indonesia has reduced tariffs on small-value goods, including items valued over 5ยข but not over 10ยข each (HS Code: TBD), facilitating increased exports from Indonesia to the US.
2023-10-15
Impact: This agreement is expected to increase trade volume for low-value items, benefiting Indonesian exporters and US importers by reducing costs and improving market access.
Indonesia Increases Production of Low-Value Consumer Goods for US Market
Indonesian manufacturers have ramped up production of low-value items under HS Code classifications (valued over 5ยข but not over 10ยข each) to meet growing demand in the US market, supported by favorable trade terms.
2023-09-22
Impact: The surge in production could lead to a higher supply of affordable goods in the US, potentially lowering prices for consumers while strengthening bilateral trade ties.
US Customs Implements Stricter Inspections on Small-Value Imports from Indonesia
US Customs and Border Protection announced stricter inspection protocols for imports valued over 5ยข but not over 10ยข each from Indonesia to ensure compliance with trade regulations and prevent undervaluation.
2023-08-10
Impact: This may cause delays in customs clearance for Indonesian exporters, potentially increasing costs and affecting the competitiveness of these low-value goods in the US market.
Policy Updates
US Tariff Reduction on Low-Value Goods from Indonesia
The US Trade Representative announced a temporary tariff reduction on specific low-value goods (valued over 5ยข but not over 10ยข each under relevant HS Codes) imported from Indonesia as part of a broader trade facilitation initiative.
Date: 2023-10-01
Indonesia Revises Export Incentives for Small-Value Items
The Indonesian government introduced new export incentives for manufacturers of goods valued over 5ยข but not over 10ยข each, aiming to boost shipments to the US and other key markets through tax rebates and subsidies.
