Jakarta. The Indonesian government is keeping an eye on the US election as ex-American president Donald Trump will go up against the Democrats’ presidential nominee Kamala Harris.

The US has been one of Indonesia’s top contributors to its trade surplus. Both countries late last year stepped up ties to a comprehensive strategic partnership. Indonesia is now witnessing a transition of power as two-term President Joko “Jokowi” Widodo will soon hand over the presidential baton to his successor Prabowo Subianto this October. The White House is also set to see a new president installed in January. 

“Will it be Kamala Harris or Donald Trump who will win the upcoming US elections?” Suharso told The Jakarta Globe’s 2025 Economic Perspective forum in Jakarta. 

“From what I have read, we have seen Trump’s economic policies. From what I have read, most business owners favor Trump. And we have Kamala Harris as the Democrats’ nominee. If she wins the upcoming election, I’m sure Harris will give a different color,” Suharso said. 

He added: “We are also already knowledgeable about how the Democrats and Republicans will orchestrate the economic policies in the US, particularly ones related to their rival and world’s second-largest economy China.”

Suharso did not say whose victory would benefit Indonesia more from an economic standpoint. 

However, during Trump’s leadership, the businessman-turned-politician instructed his government in 2018 to review whether Indonesia should remain eligible for the Generalized System of Preferences (GSP), which had granted goods from Jakarta duty-free treatment after Washington saw deficits. The GSP scheme today has expired and is waiting for renewal by the US Congress. Under the incumbent US president and the Democratic Party member Joe Biden, Jakarta and Washington vowed to develop an action plan that could pave the way for a critical mineral agreement. Jakarta has been seeking this agreement so electric vehicles made from Indonesian minerals could enjoy tax credits when sold in the US.

Government data showed Indonesia-US trade amounted to $34.5 billion in 2023, giving an almost $12 billion surplus to Jakarta. As of the first half of 2024, trade has already hit nearly $18 billion. Indonesia also booked a $6.4 billion surplus over the said six-month period.