Some information about global tariffs prior to Trump’s new tariffs, from Radio Far Side at radiofarside.substack.com:
No, really, how bad is it?
UPDATE 07APR25: This would seem to indicate that Trump has an opportunity to establish a BRICS alternative, with FTAs and currency swaps, rather than tariffs and excise taxes. Standing by.
UPDATE 07APR25: listen to the companion pod for this article.
UPDATE 07APR25: Indonesia begins to panic as the decades-long free ride on USAID grants and trade surpluses begin to bite and the rupiah collapses. Our bet is capitulation by month’s end.
Unless you’ve worked a lot in logistics and cross-border trade, you may not be aware of the global tariff system. Most countries have a base tariff rate, with variations based on protected products and industrial sectors, or socio-cultural mores that levy a “sin tax” on consumers who enjoy certain luxuries—alcohol and tobacco being the most common.
As of April 3, 2025, Indonesia imposes import tariffs on goods from the United States in accordance with its Most-Favored-Nation (MFN) tariff schedule, as both countries are members of the World Trade Organization (WTO). These tariffs are generally consistent across all trading partners without preferential trade agreements with Indonesia.
