Indonesia has prepared scenarios to anticipate the impact of potential policies from US President-elect Donald Trump, Reuters quotes a finance ministry official as saying.

The head of the ministry’s fiscal policy agency, Febrio Kacaribu, said the scenarios were designed not only to mitigate negative impacts, but also to find opportunities under a Trump administration.

He did not provide further details.

Indonesia’s finance minister Sri Mulyani Indrawati said in the same press conference that the government would closely monitor the risk of trade wars as countries likely react by imposing higher import tariffs of their own.

Trump has proposed a 10 per cent tariff on all US imports and 60pc on Chinese-made products, which if enacted would affect the whole economy by pushing consumer prices higher.