TEMPO.CO, Jakarta - Industry Minister Airlangga Hartarto said the United States election result will not directly affect Indonesian industry. It will instead greatly affect the capital market. “The industry will only be affected in the long run,” he said after a meeting at the Coordinating Ministry for Economic Affairs building in Jakarta on Wednesday, November 9, 2016.

However, the government has set up anticipative measures over changes in The Fed’s interest rates which is expected in December. Moreover, Airlangga will also reconsider the decision to join the Trans Pacific Partnership under the US leadership.

The Republican presidential candidate Donald Trump won the US Presidential Election on the early days of Wednesday after capturing Wisconsin's 10 electoral votes, putting him over the 270 threshold.

Trump had planned to annul any trade agreements that harm the United States. Trump had also denounced the TPP.

Airlangga is not concerned with possible changes in US policy under Trump administration. “We will see how it develops,” he said.

Airlangga said that Indonesia has to join the TPP for its benefits. “If Vietnam joins the TPP and Singapore or Malaysia do participate, it will be important to join it because the footwear industry will be subject to MFN (most favoured nations) tariffs, whereas a special tariff differs by 5-10 percent.”

PUTRI ADITYOWATI