The government is establishing three state-owned companies to oversee food, fisheries and oil palm plantations as part of a larger effort to bolster food security, but experts warn the move undermines the consolidation of state-owned enterprises (SOEs).

The finance minister, a seasoned economist, has criticized Trump's tariff policy as devoid of any basis in economic science, while highlighting the resulting turmoil in global trade as presenting a fresh opportunity for Indonesia.

The approval will come on the day that Trump's "reciprocal" tariffs on the EU and dozens of countries took effect, including massive 104 percent duties on China, extending his tariff onslaught and spurring more widespread selling across financial markets.

Rise in demand from the free meals implementation is expected to wipe out the 200,000-tonne egg surplus that Indonesia currently produces.

The government explained that “front-loading” debt issuance was a way to anticipate uncertainty brought about by global dynamics, including a highly protectionist trade policy adopted in the United States.

Following the sweeping 10 percent tariffs that took effect over the weekend, rates on imports to the United States from exporters like the European Union or Japan rose further at 12.01 a.m. Wednesday.

The government is forming a management body for carrying out seawall projects to tackle land subsidence along the northern coast of Java, Deputy Public Works Minister Diana Kusumastuti has said.

Chinese stocks found some footing on Wednesday as state pledges to support the local market and surging interest in domestic tech firms softened the blow to sentiment from the 104 percent tariffs imposed by the US on Chinese goods.

The United States said on Tuesday that 104 percent duties on imports from China will take effect shortly after midnight, even as the administration of President Donald Trump moved to quickly start talks with other trading partners targeted by sweeping tariffs.

The impact of US tariffs on countries around the world cannot be ignored in the broader context of global protectionism, and Indonesia's solution to pursue dialogue is part of a multilayered, rational strategy that considers the long term in the nation's interest.

President Prabowo Subianto has ordered the government to extensively cut back business regulations, including local content requirements and import restrictions, a day before the United States is set to slap steep import tariffs on Indonesian goods.

Beijing's rebuke came after Trump threatened to ratchet up tariffs on US imports from the world's No. 2 economy to more than 100 percent on Wednesday in response to China's decision to match the "reciprocal" duties Trump announced last week.

While acknowledging that there may be limited room "to revisit the underlying intent" of the tariffs, Anwar said there was still scope to adjust the policy's implementation.

Asia stocks bounced off 1-1/2 year lows, European shares opened broadly higher and US stock futures pointed to a positive open for Wall Street where shares fell to their lowest in over a year on Monday, before steadying.

The country’s headline inflation hovered at 1.03 percent year-on-year in March, Statistics Indonesia (BPS) production undersecretary M. Habibullah said in a press conference on Tuesday.

Local manufacturers have highlighted an urgent need for measures to protect the domestic market in anticipation of a potential influx of displaced imports as a result of US tariffs, especially following an unexpected downturn in demand over Idul Fitri.

China vowed on Tuesday to "fight to the end" against US tariffs as some citizens railed against President Donald Trump after he singled out Beijing for further levies, setting the stage for a standoff between the world's two largest economies.

Both buyers and exporters of Indonesian shrimps are waiting for the negotiation result between Indonesia’s government and the Trump administration.

Just before trading resumed after the holiday break, the local bourse adapted its circuit breaker rules, first introduced during the COVID-19 crisis, to better accommodate current volatility.

Asian stocks bounced off 1-1/2-year lows and US stock futures pointed higher on Tuesday, as markets caught their breath after recent heavy selling on hopes that Washington might be willing to negotiate some of its aggressive tariffs.

Financial markets across the globe posted a third day of losses as investors worried that steep trade barriers around the world's largest consumer market could lead to a recession. 

BI held a meeting on Monday to respond to the plummeting rupiah by preparing several measures to stabilize the currency and maintain market confidence.  

The government has vowed to import more goods from the United States to gain leverage in bilateral negotiations and ease tariffs introduced by US President Donald Trump.

Markets in Indonesia have been closed since March 28 for public holidays, and trading will resume on Tuesday, April 8. Before the break, the rupiah had already been under pressure, dropping to its lowest levels since the 1998 financial crisis. 

The Hang Seng Index ended down 13.22 percent, or 3,021.51 points, to 19,828.30 -- its heftiest drop since 1997 during the Asian financial crisis -- while the Shanghai Composite Index shed 7.34 percent, or 245.43 points, to 3,096.58.

Presidential spokesman Hasan Nasbi said on Thursday that President Prabowo's administration has prepared  strategies to maintain the stability of the domestic economy amid Trump's tariffs, including the free nutritious meal program.

Technically insulated from the recent rout due to its holiday closure, Indonesia’s stock market will hardly escape unscathed and is likely to take a delayed hit following the sharp sell-offs on other Asian exchanges when it reopens for trade on Tuesday.