JAKARTA — Stalled efforts by the U.S. and European Union to forge a trans-Atlantic trade pact will remain on ice for the foreseeable future — regardless of the outcome of the Nov. 8 U.S. presidential election, according to the EU’s agriculture commissioner. Failure to finalize the proposed Transatlantic Trade and Investment Partnership pact reflects growing protectionist sentiment in both the U.S. and Europe, and mirrors problems besetting its U.S.-Asian counterpart, the Trans-Pacific Partnership agreement. Negotiations on the TTIP will not resume until the new U.S. administration — led by Democrat Hillary Clinton or her Republican rival Donald Trump — settles into office, said Phil Hogan, the European Commissioner for Agriculture and Rural Development. “These are on hold at the moment until we know what the new policy position of the U.S. will be,” Hogan said on Tuesday in Jakarta, on the final leg of an EU trade mission to Asia. “We have had a lot of political rhetoric from both candidates, probably to a greater extent from Mr. Trump who has expressed himself as anti-trade, Mrs. Clinton has said less than positive things about trade as well.”
JAKARTA – Meeting Indonesian President Joko Widodo on Monday to discuss mutual trade and investment prospects, UK Prime Minister David Cameron told media that “we [the U.K. and Indonesia] are natural business partners and there is much more we can do.” In return for considering British investments, Indonesia wants greater access to the U.K. and to the wider European market for its exports, which are mostly commodities such as palm oil, rubber, coal, coffee, copper, oil and natural gas. “The lower tariff [is] needed on Indonesian [primary] products like wood, clothing, coffee and fisheries,” Widodo said after meeting Cameron, adding that British applications for investment in Indonesian infrastructure would be considered.