Economists and investors urge Bank Indonesia (BI) to lower interest rates to boost the economy, citing new U.S. import tariffs.

President Donald Trump revealed new higher tariff rates for more than a dozen countries after hitting Japan and South Korea first earlier in the day.

Indonesia will highlight its strategic importance in global trade, especially its natural resources, as it forges ahead with negotiations to try to reduce a 32% tariff imposed by the United States, a government official said on Wednesday.

Airlangga is currently in Washington DC to meet US President Donald Trump's team over the looming 32 percent tariffs.

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Indonesia and the United States have agreed to take concrete steps to advance negotiations on reciprocal tariffs, in a move to deepen bilateral trade relations and foster long-term economic cooperation.

Minister Prasetyo Hadi explained that the United States' import tariffs apply not only to Indonesia but also to other countries.

Indonesia will send its main negotiator to the U.S. on Monday ahead of Washington's deadline for tariff agreements on July 9, with the two countries also due to sign a $34 billion deal involving higher imports of U.