Indonesia’s plywood, bamboo, rattan listed in US GSP programme

The U.S. Trade Representative (USTR) has indicated that laminated bamboo plywood (HS 44121005), thin plywood measuring less than 66 mm (HS 44123141155), and rattan for hand-made souvenirs (HS 46021223) are eligible for cuts in Generalised System of Preferences tariffs on exports to the US, reported ITTO.

US says trade preference talks to conclude soon

US Commerce Secretary Wilbur Ross said recently that a US review of a trade preference facility for Indonesia would conclude soon, and he predicted “far more investment” by US companies in Indonesia as a result, according to a report in TEMPO.

The USTR has been reviewing Indonesia’s eligibility for the GSP facility for more than a year due to concerns about market access for US goods, services and investment.

By retaining GSP and opening up more market access in both directions, Indonesia and the U.S. aim to more than double their trade in the next five years to US$ 60 billion (up from US$ 28.6 billion in 2019), according to Indonesian Chief Economic Affairs Minister Airlangga Hartarto. “We want to open access for our furniture and textiles and we have programmes to import more cotton and wheat from the US,” he was reported as saying.