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Trump: Nearly all nations have trade a surplus with the US. Norway has a trade surplus with the US
ByAinvest
Thursday, Apr 24, 2025 12:27 pm ET1min read
Trump: Nearly all nations have trade a surplus with the US. Norway has a trade surplus with the US
Indonesia, the world's largest exporter of palm oil and a major player in the global trade landscape, has announced plans to reduce its trade surplus with the United States. This strategy comes in response to recent tariffs imposed by the U.S. government, which have prompted countries to seek ways to balance their trade relationships.According to Indonesia's Finance Minister Sri Mulyani Indrawati, the country's trade surplus with the U.S. stood at $4.32 billion between January to March 2025, an increase from $3.61 billion in the same period the previous year [1]. However, trade with the U.S. constitutes less than 2% of Indonesia's gross domestic product (GDP), indicating that the U.S. is not a major trading partner for the Southeast Asian nation.
The U.S. has implemented tariffs on various goods, including agricultural products, which has led Indonesia to explore ways to import more from the U.S. to narrow its trade surplus. The country is considering importing agricultural products such as wheat, soybeans, and corn, as well as oil and gas, particularly liquid gas, to meet its domestic energy needs [1].
Indrawati noted that Indonesia's administrative processes, customs procedures, and taxation policies have been perceived as non-tariff barriers that hinder trade. The country is now looking to discuss ways to improve these processes and allow the U.S. to provide agricultural products more effectively [1].
This strategy is part of Indonesia's broader effort to diversify its trade relationships and mitigate the impact of U.S. tariffs. While the U.S. remains a significant contributor to Indonesia's overall trade surplus, the country is focusing on other trading partners to balance its trade relationships more effectively.
References:
[1] https://www.cnbc.com/2025/04/24/indonesia-to-import-more-from-the-us-to-narrow-trade-surplus-minister.html
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