TheJakartaPost
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In a stunning reversal, US President Donald Trump said on Wednesday he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending US stocks rocketing higher.
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.
Redistributive taxation, while it is not easy to craft or implement, can encourage innovation and the equitable distribution of growth benefits, whereas Trump's tariffs will only undermine the US' competitive edge and do harm.
Two different models indicate that in the long run, Trump’s “Liberation Day” tariffs stand to do more harm to the US than any of the countries it aims to target; nonetheless, they don't bode well for either international trade or the global economy.
US President Donald Trump on Thursday invoked emergency powers to boost domestic production of critical minerals used widely across the economy as part of a broad effort to offset China's near-total control of the sector.
