The HKI is urging the government to fulfill its fixed priced for industrial gas, or else open the door to imports if the available domestic supply was not enough to meet demand.

The move came after US President Donald Trump threw months of painstaking negotiations with the EU into disarray by threatening to impose tariffs of 30 percent on the bloc's goods if there is no deal by August 1.

In line with President Prabowo's "3 million homes" program, the MSMEs and housing ministries are preparing to devise a special microcredit scheme for housing next year with a cap of Rp 430 trillion.

South Korea is in a race to reach a compromise trade pact in the hope of avoiding a 25 percent tariff slapped on its exports by Trump that is set to kick in on August 1, after a late start to negotiations with a new president voted in last month.

EU officials insist the bloc remains clear-eyed on the challenges of dealing with the unpredictable US leader, and ready to hit back.

US customs duty collections surged again in June as President Donald Trump's tariffs gained steam, topping $100 billion for the first time during a fiscal year and helping to produce a surprise $27 billion budget surplus for the month, the Treasury Department reported on Friday.

The government says it remains in negotiations to secure a trade deal with Washington before the Aug. 1 deadline.

Trump this week began issuing letters to many US trading partners as he ramps up pressure for more favorable trade deals.

Though a preliminary study is underway on Whoosh's Surabaya extension as a necessary development, the question of who will foot the bill looms large, with the government insistent on not dipping into the state coffers and operator KCIC insisting it can't go it alone.

Apart from tariffs targeting goods from different countries, Trump has rolled out sector-specific duties on steel, aluminum and autos since returning to the White House in January.

Malaysia has reported a string of soft economic data in recent months with growth slowing to 4.4% in the first quarter, while exports unexpectedly fell in May.

Layoffs have continued to rise across the country, especially in labor-intensive sectors such as textiles and footwear.  

The government and House of Representatives  Commission XI, which oversees financial affairs, approved the basic macroeconomic assumptions for the 2026 state budget.

The 14 countries sent letters so far, which included smaller US exporters like Serbia, Thailand and Tunisia, hinted at opportunities for additional negotiations while at the same time warning that any reprisal steps would be met with a like-for-like response.

A government plan to revert from a triennial to an annual basis for mining work plan approvals (RKAB) has drawn mixed reactions from industry players, with some warning of increased uncertainty and red tape but others seeing a chance to boost flexibility and revenue.

Tensions between Beijing and Brussels have been rising, with the European Union imposing tariffs on China-built electric vehicles and Beijing slapping duties on imported brandy from the bloc.

With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive "America First" approach of the US president, BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars.

To get there, bolder reforms are needed, said Prime Minister Lawrence Wong in a video message posted on YouTube on July 5, adding that the association’s 10 nations may be limited in scale individually but together have considerable weight.

The rates will "boomerang back" to the sometimes very high levels that President Donald Trump had announced on April 2 -- before he suspended the levies to allow for trade talks and set a July 9 deadline for agreements, Bessent told CNN.

The joint statement by the group's finance ministers marks the first time the BRICS countries haveagreed on a unified position on the proposed reforms. They agreed to back the shared proposal at an IMF review meeting coming up in December, which will discuss changes to a quota system that defines contributions and voting rights.

The proposal follows a major driver protest in May, during which drivers demanded higher fares and lower commission rates from the apps.

"My inclination is to send a letter out and say what tariff they're going to be paying," he told reporters on Thursday. "It's just much easier."

The government has allocated Rp 13 trillion (US$803.11 million) for renovation loans and Rp 117 trillion for housing development under the scheme.

"Currently, both teams are working quickly to implement the results outlined in the London framework", China's commerce ministry said in a statement, referring to the June meetings.

The bill is expected to pile an extra $3.4 trillion over a decade onto US' fast-growing deficits.

The energy minister has announced the move to undo last year’s implementation of the three-year approval process via the e-RKAB platform, which had led to overproduction and weaker oversight as well as reduced tax collection.

The Southeast Asian nation has the third-biggest trade surplus with the United States of any country after China and Mexico, and was targeted with one of the highest rates in the US president's "Liberation Day" tariff blitz on April 2.