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.

Jakarta is facing a 32 percent tariff in US markets and has previously offered to increase US imports to facilitate trade talks between the two sides.

EV bikes sales in the first half of 2025 have plummeted, falling by 30 to 40 percent compared with the same period last year.

Large-scale aid programs in Indonesia have a history of allegations of graft at both the regional and national levels.

The figure is lower than the April announcement that US importers of Vietnamese goods would have had to pay a 46 percent tariff.

The state-owned enterprises (SOEs) consortium involved in the operation of the Whoosh, PT Pilar Sinergi BUMN Indonesia (PSBI), recorded Rp 4.19 trillion in losses last year.

The energy ministry has identified around 7,000 potentially productive community wells in Aceh, Jambi, South Sumatra, Central Java and East Java.

Danantara CEO Rosan Roeslani noted that the agency had already secured $7 billion in international investment commitments from Qatar, Russia, China and Australia.  

The vote in the House, where Republicans hold a 220-212 majority, is likely to be close.

State asset fund Danantara will also be involved in the mineral project being offered.

For the transition to succeed, JETP emphasized that PLN must not only accelerate renewable procurement but also prioritize inclusive access and ensure project viability across all regions.

The duties on stainless steel billets and hot-rolled plates, first levied by Beijing in 2019, range from 20.2 percent for Indonesian imports to 43 percent for those from the EU.

The digital services tax, enacted last year, would have seen US service providers such as Alphabet and Amazon on the hook for a multi-billion-dollar payment in Canada by Monday, analysts have said.