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Indonesia proposes critical minerals trade deal with US
Indonesia has asked the United States to begin talks on a trade deal for critical minerals so that exports from the Southeast Asian country can be covered under the US Inflation Reduction Act, an Indonesian ministry said on Thursday.
The request was made when Indonesian President Joko Widodo met with US Vice President Kamala Harris on the sidelines of meetings hosted by the Association of Southeast Asian Nations (ASEAN) in Jakarta on Wednesday.
Under guidelines for the US law issued in March, Washington has required that a certain amount of critical minerals in electric vehicle (EV) batteries be produced or assembled in North America or a free trade partner, for EVs sold in the United States to be eligible for tax credits.
Indonesia does not have a free trade agreement with the United States, but the resource-rich country has ambitions to become a major player in the manufacturing of EVs and their batteries, leveraging its vast nickel reserves.
The president also hoped that Indonesia’s involvement in the US-led Indo-Pacific Economic Framework (IPEF) could allow its mineral exports to be recognized for “green subsidies” under the inflation act, according to the ministry’s statement.
Harris, during the opening speech of the bilateral meeting, said she would continue to work with Indonesia to build supply chains that included “critical minerals required to expand our clean energy economies” and to boost trade between the two countries through IPEF.
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- [Editor:邢亞敏]
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