JAKARTA (Reuters) – Indonesia has ready scenarios to cease up for the impact of doable insurance policies from U.S. president-elect Donald Trump, a finance ministry legitimate acknowledged on Friday.

The top of the ministry’s fiscal policy agency, Febrio Kacaribu, acknowledged the scenarios were designed now not splendid to mitigate detrimental impacts, but moreover to hunt down alternatives below a Trump administration.

He didn’t provide additional well-known aspects.

Trump has proposed a 10% tariff on all U.S. imports and 60% on Chinese-made products, which if enacted would possess an impact on the entire financial system by pushing person prices elevated.

Economists say that Trump’s tariff plans, likely his most consequential financial policy, would push U.S. import responsibility rates advantage up to 1930s-era stages, stoke inflation, crumple U.S.-China exchange, draw retaliation and seriously reorder provide chains.

Indonesia’s finance minister Sri Mulyani Indrawati acknowledged within the identical press conference that the authorities would closely show screen the threat of exchange wars as countries likely react by imposing elevated import tariffs of their maintain.

Economic indicators counsel Indonesia’s financial system remains resilient with solid household consumption and investment, she added.