Minister of Finance Sri Mulyani Indrawati expressed her concerns about the dynamics of the global economy triggered by the United States tariff policy. 

Addressing an economic symposium presided by President Prabowo Subianto in Jakarta, on Tuesday, April 8, 2025, Sri Mulyani said the U.S. tariff policy bore an extraordinary risk to the stability of the world economy.

"The U.S. tariff policy poses an extraordinary risk," the Indonesian finance minister told the forum attended by Cabinet ministers, industry players, and leaders of national business associations and trade unions.

According to Sri Mulyani, in a short period of time between February and April 2025, the global economic order has changed drastically. U.S. President Donald J. Trump's policy, which has been in effect since April 1, has set a 10 percent tariff on Canadian products, an additional 25 percent tariff on energy, and a 25 percent tariff on Mexican products and 10 percent on Chinese products.

"This has changed the order of all world friendships," she said.

Sri Mulyani added that the tariff policy triggered retaliation from the affected countries. On March 4, the U.S. again raised tariffs on Chinese products to 20 percent, while Canada responded with a counter-policy.

"This timeline illustrates that in just one month, the world that was previously governed on rules based, now has no more certainty," she said.

"This is one of the things that we need to pay attention to in managing the economy," she added.

Sri Mulyani further highlighted the U.S.'s reciprocal tariff policy against 60 countries, which according to her no longer follows the rules of economics.

"So this is no longer valid economics. What is key [in the U.S.’s policy] is tariff, because the goal is to close the deficit. There is no economics there," she said. "It's purely transactional, there is no basis in economics."

Public communication

Addressing the opening of the symposium, President Prabowo Subianto said that the symposium was part of the government's initial measures in building more proactive public communication.

"This event is held because I feel that after six months in office, as the mandate holder of the nation and the people, it is time for us to be more communicative, more proactive in providing information," Prabowo said in his speech.

He cited that the symposium, which was attended by business associations and industry players, is important to strengthen the synergy between the government and the business world in facing national and global economic challenges.