Many newcomers have entered Indonesia’s fragrance market by introducing products on social media before selling them on e-commerce or consignment where consumers can purchase them offline.

President Prabowo Subianto has instructed his cabinet to deregulate and remove “restricting regulations” particularly with regard to nontariff barriers.

Trump on Wednesday announced that China would be hit with a 34 percent tariff, on top of the 20 percent he imposed earlier this year, bringing the total new levies to 54 percent.

Indonesia exported $26.3 billion worth of goods to the US while importing only $9.5 billion, with key exports including electrical equipment, clothing and footwear, CPO and rubber.

Only 12.34 million taxpayers submitted their tax returns before this year's April 1 deadline. The figure falls short of last year’s 12.7 million tax return submissions under a similar deadline.

The tariffs -- which are paid in the first instance by US importers -- will likely push up the price of many household items in the United States and reduce consumers' spending power. 

Equities extended losses in Asia on Friday, extending a global rout inflicted by Donald Trump's tariff blitz that has inflamed a trade war and ramped up recession and inflation fears.

China is more exposed to the risk of shrinking world commerce than any other nation, with economic growth last year relying heavily on running a trillion-dollar trade surplus.

Lev Kroll, CEO of Nuanu, explains the company’s strategic vision for a commercial and residential development project in Bali’s Tabanan regency, and how other investors can get engaged.

Indonesia, which enjoyed a $16.8 billion surplus in trade with the United States last year, now faces a steep 32 percent tariff on goods exported to the US market.

Coal accounts for just over a third of global electricity production and phasing it out is fundamental to meeting climate change goals.

Six of the nine Southeast Asian countries listed by Trump were slapped with much bigger-than-expected tariffs of between 32 percent and 49percent. By comparison, the level for the European Union was 20 percent.

Nike is one of several sportswear brands heavily reliant on Vietnam as a production site and higher tariffs would force the company to absorb higher costs or hike its prices at a time when it is already discounting some items to clear inventory.

Companies may try to diversify supply chains, but Trump's reciprocal 34 percent tariff on China was accompanied by 46 percent and 49 percent tariffs on Vietnam and Cambodia, respectively - all Asian countries where companies had been shifting output.

The dollar slid broadly on Thursday and the euro firmed after President Donald Trump announced more aggressive-than-expected tariffs against US trading partners, jolting the markets as investors sought safe havens such as the yen and Swiss franc.

The steeper additional tariffs impact major US trading partners, with the European Union facing a 20 percent rate and China a 34 percent figure.

The "reciprocal" tariffs, Trump said, were a response to duties and other non-tariff barriers put on US goods. He argued that the new levies will boost manufacturing jobs at home.

According to the latest S&P Global report released on Monday, Indonesia’s manufacturing Purchasing Managers’ Index (PMI) dipped to a reading of 52.4 in March from 53.6 in February.

The government has dismissed a suggestion that less money circulated during Idul Fitri this year compared to previous years.

The White House confirmed on Tuesday that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the size and scope of trade barriers that have businesses, consumers and investors fretting about an intensifying global trade war.

The Public Housing and Settlements Ministry is planning to build 70,000 subsidized homes this year for workers in various sectors, including in the health, education and fishery industries, as part of President Prabowo Subianto’s ambitious 3 million homes program.

The government is planning to disburse the second round of social aid this year after the Idul Fitri holiday, while also seeking to begin utilizing the newly launched Single National Social and Economic Data (DTSEN) system. 

Asia's factory activity mostly weakened in March as an intensifying US tariff war and slowing global demand hurt business sentiment, private sector surveys showed on Tuesday, darkening the outlook for the region's economy.

Asian equities rose on Tuesday following Wall Street's overnight gains, while gold hit an all-time peak and Treasury yields fell as markets awaited details of US President Donald Trump's reciprocal tariffs.

Most emerging markets had a disappointing start to the week on worries that US tariffs could be more widespread, while signs that a long-awaited Russia-Ukraine ceasefire could be faltering added to the unease.

Trump set the April 5 deadline in January for TikTok to find a non-Chinese buyer or face a U.S. ban on national security grounds due to have taken effect that month under a 2024 law.

Previously, Inalum had aimed to complete the study by the end of 2024 and begin construction this year.