The US-China trade war, a defining feature of modern global economic tensions, has sent ripples across international trade, affecting countries far beyond its two primary participants. Many developing economies, including Indonesia, rely heavily on the US and China as key export markets and integral hubs in global industrial chains and networks.
The Indonesian economy relies heavily on garment exports. The textile and textile product industry is a labor-intensive sector and a cornerstone of the economy. Over the past nine years, the situation in 2023 and 2024 marks the most challenging period for Indonesia’s textile industry.
In a rapidly globalizing economy, businesses of all sizes are looking to expand into global markets. However, navigating the complexities of international trade regulations is far from simple. It involves not only moving goods across borders but also following complex legal rules that differ widely between countries.
Donald Trump has declared victory in the 2024 U.S. presidential election, a development likely to bring significant shifts and challenges to global trade. Known for his “America First” policies, Trump has consistently advocated for tougher trade regulations, focusing on tariffs and renegotiating trade deals to benefit U.S. industries. His return to office could bring back an era of economic nationalism, with potential challenges on global trade and supply chains.
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