Economist and capital market practitioner, Hans Kwee, suggested that Indonesia strengthen trade relations with BRICS member countries (Brazil, Russia, India, China, and South Africa) in response to the increase in import tariffs imposed by the United States.
He assessed that the high tariff policy from the US could have a negative impact on Indonesia's trade balance, including the possibility of a decrease in the trade surplus and pressure on the rupiah exchange rate.
Kwee emphasized that expanding cooperation with BRICS could open up new income opportunities for Indonesia and be a strategic step to maintain economic stability amid global uncertainty.
This has become increasingly urgent after US President Donald Trump announced a base tariff of 10 percent for all countries and additional retaliatory tariffs of up to 32 percent for Indonesia and several other countries.
