Indonesia’s Minerals Deal: A Strategic Win or a Costly Surrender?
February 25, 2026
Indonesia’s tariff deal with Washington risks unraveling its hard‑won nickel industrial policy. The agreement lifts U.S. levies but pressures Jakarta to relax export restrictions without securing binding processing or technology commitments. With China dominating refining and EV markets shifting away from nickel, the deal could weaken Indonesia’s leverage unless renegotiated.