Trump strikes trade deal with Indonesia, imposes 19% tariff on goods
Trump touted the deal as a major win for US farmers, ranchers, and exporters, claiming it would provide "complete and total access" to Indonesia's 280 million-strong consumer market- a market that had previously been limited by high trade barriers. The average applied tariff rate in Indonesia, while officially listed at 37.1 per cent, was effectively around 5.7 per cent in 2024, according to World Trade Organization data.In a Truth Social post Tuesday, Trump described the Indonesia agreement as a 'landmark Deal': Thank you to the People of Indonesia for your friendship and commitment to balancing our Trade Deficit. We will keep DELIVERING for the American People, and the People of Indonesia!'Outside the Oval Office, Trump emphasised the imbalance the new deal aims to correct: 'They are going to pay 19 per cent and we are going to pay nothing we will have full access into Indonesia, and we have a couple of those deals that are going to be announced.'Indonesia had previously faced the threat of a 32 per cent blanket tariff set to take effect August 1, part of a broader tariff ultimatum Trump issued in letters to over two dozen countries this month, including Japan, Canada, Brazil, and India. The letters threatened new tariffs ranging from 20 per cent to 50 per cent unless agreements were reached to reduce trade imbalances.- EndsTune InMust Watch
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
15 minutes ago
- First Post
Epstein row turns tide against Trump, 69% Americans say info on sex offender concealed: Survey
The Trump administration last week reversed course on its pledge to release the Epstein list. Close to two-thirds of Republicans think the administration is hiding details on Epstein's business read more Most Americans think President Donald Trump's administration is hiding information about accused sex-trafficker Jeffrey Epstein and give it poor marks on the issue after pledging to make public documents in the case, a Reuters/Ipsos poll found. The two-day poll, which closed Wednesday, showed 69 per cent of respondents thought the federal government was hiding details about Epstein's clients, compared to 6 per cent who disagreed and about one in four who said they weren't sure. STORY CONTINUES BELOW THIS AD Epstein, a wealthy financier and convicted sex offender, was facing federal charges of sex-trafficking minors when he died by suicide in jail in 2019. He had pleaded not guilty, and the case was dismissed after his death. The case has captivated swaths of Trump's political base who were expecting lurid details after some of Trump's top law enforcement officials said they would be releasing documents that would lead to major revelations about Epstein and his alleged clientele. The Trump administration last week reversed course on its pledge, enraging some of the president's followers. Close to two-thirds of Republicans think the administration is hiding details on Epstein's business, the Reuters/Ipsos poll found. Just 17 per cent of Americans approve of Trump's handling of the case, a weaker rating than the president received on any other issue in the poll. Among Republicans, 35 per cent approved, compared to 29 per cent who disapproved and the rest who said they weren't sure or didn't answer the question. Reuters reported on Wednesday that Trump and White House officials were weighing a range of options including unsealing new documents, appointing a special prosecutor and drafting executive actions on issues such as pedophilia. Trump, however, has been defiant, describing supporters hung up on the issue as 'weaklings' who were helping Democrats. 'I don't want their support anymore!' Trump said in a social media post. STORY CONTINUES BELOW THIS AD The beliefs following Epstein's death were part of a range of conspiracies that have taken hold in US politics, including 'QAnon,' a far-right fringe belief that a cabal of cannibalistic child molesters inside the US government have conspired against Trump. Behind the scenes Trump and senior aides have also reached out to key MAGA-aligned influencers, urging them to dial down their criticism of the administration's handling of the Epstein investigation and shift focus to broader priorities for the America First movement. The backlash over the Epstein case has laid bare tensions inside Trump's coalition and is testing one of Trump's most enduring political strengths: His ability to command loyalty and control the narrative across the right. The outcry comes amid discontent among parts of Trump's base over the US strikes on Iran, continued involvement in Ukraine and any hint of backsliding on the administration's hardline immigration promises. Trump knew Epstein socially in the 1990s and early 2000s. During the 2021 trial of Epstein's associate Ghislaine Maxwell, the financier's longtime pilot, Lawrence Visoski, testified that Trump flew on Epstein's private plane multiple times. Trump has denied ever being on the plane and has not been accused of any wrongdoing. STORY CONTINUES BELOW THIS AD The Reuters/Ipsos poll, which was conducted online, surveyed 1,027 US adults nationwide and had a margin of error of about 3 percentage points.
Economic Times
15 minutes ago
- Economic Times
Bitcoin eyes $150,000 — analysts reveal the key moves that could send it soaring
Bitcoin is heating up again — and this time, analysts are setting their sights on a massive $150,000 target. The world's largest cryptocurrency has surged past $120,000, gaining over 28% in just the past 30 days and reigniting hopes of a new all-time high. According to data from CoinShares, Bitcoin ETFs have attracted over $14.8 billion in net inflows since May, marking one of the strongest periods of institutional adoption in crypto history. Analysts from Bloomberg Intelligence and ARK Invest now forecast Bitcoin reaching $150,000–$200,000 by early 2026, with some more aggressive models predicting a run to $250K if market conditions remain favorable. BTC rallies past $118,000 as market eyes $130K and $150K breakout with support from ETFs, regulation, and Trump's economic strategy- Bitcoin price is back in the spotlight, surging to $118,004 as bulls aim once again for the $120,000 mark. But beyond that, a bigger question is surfacing: What will it take for Bitcoin to rally all the way to $150,000? Analysts are watching market structure, institutional demand, and regulatory support closely as potential catalysts that could ignite the next big breakout. The recent price movement was largely fueled by a massive futures-driven short squeeze on Sunday night, which wiped out over $1 billion in crypto market liquidations. That pushed BTC briefly over $120,000 before some pullback, yet the bullish setup remains intact. Bitcoin just broke out of a key consolidation range, and chart analysts are buzzing about what that could mean next. Classic bullish patterns — like the 'cup and handle' and flag formations — are flashing green. Many technical experts are calling for a measured move toward $145,000–$150,000 if current momentum holds. One of the biggest drivers behind this rally? Spot Bitcoin ETFs. In just the last couple of months, nearly $15 billion has poured into these funds. Institutions and 'whales' are scooping up BTC at a rapid pace, and that's adding serious strength to the current uptrend. Long story short: the big players are back in. Congress is holding crucial votes this week on pro-crypto bills like the GENIUS Act and the CLARITY Act. If passed, they could open the doors for even more institutional adoption — and possibly fast-track Bitcoin's path to $150K. Markets are already reacting positively to the possibility of more regulatory clarity from Washington. Exchange reserves are at multi-year lows, signaling that long-term holders aren't in the mood to sell. Meanwhile, metrics like the Bitcoin Realized Cap and Dormancy Flow are indicating strong accumulation. In short, the fundamentals are bullish under the surface, too. While Bitcoin has already recovered impressively in 2025, climbing from earlier lows, the key level most traders are watching now is $150,000. Technically, this is not just a round psychological number — it's tied to a confirmed inverse head-and-shoulders pattern on the daily chart, which points to a target of $143,000. According to analysts, the path to $150,000 would require successive daily closes above $130,000, a level BTC has yet to reclaim. But it's not just about the charts. Behind the scenes, the spot demand from Bitcoin ETFs and treasury-building by publicly listed companies are playing a huge role in keeping buying pressure strong. 'A strong, global spot bid is ever present via the Bitcoin ETFs, publicly listed companies actively building BTC treasuries, and an assortment of companies investing in Bitcoin infrastructure,' said Ray Salmond, Cointelegraph's Head of Markets. Resistance levels : $123K–$125K is the next big test. A strong close above $125K could spark a move toward $130K. : $123K–$125K is the next big test. A strong close above $125K could spark a move toward $130K. Support zones : $118K is the key line in the sand. Below that, eyes turn to $112K–$110K. : $118K is the key line in the sand. Below that, eyes turn to $112K–$110K. Catalysts: Watch ETF inflow data, Congressional news, and social media chatter from crypto influencers like Michael Saylor, Elon Musk, or Trump. Timeframe Price Outlook What Could Drive It Short-term (days to weeks) $130K–$135K Technical breakout, ETF demand Mid-term (1–3 months) $145K–$150K Passage of crypto bills, continued whale accumulation Long-term (6–12 months) $150K–$200K+ Global adoption, Bitcoin halving effects, macroeconomic shifts Top analysts from platforms like Ark Invest and Bloomberg Intelligence still believe Bitcoin could hit $200K or higher over the next year — especially if macro conditions stay favorable. A critical driver in Bitcoin's current rally is the ongoing inflows into Bitcoin ETFs. In fact, this week marked a three-month high in spot BTC ETF inflows, signaling a steady increase in institutional appetite for the asset. Adding fuel to the fire, Cantor Fitzgerald and Blockstream CEO Adam Back are reportedly finalizing a SPAC deal that could see Cantor Equity Partners acquire up to 30,000 BTC. Moves like this not only tighten Bitcoin's supply but also boost investor confidence. These developments show how institutional infrastructure around Bitcoin is growing stronger, making it more likely that price milestones like $130,000 and $150,000 are reached — especially if demand keeps up. In a surprising political shift, the Trump administration is now being viewed as Bitcoin-friendly, with recent developments creating positive regulatory momentum. The GENIUS stablecoin bill and the Digital Asset Market Clarity Act have both cleared procedural hurdles in the House of Representatives, setting them up for final votes. If passed, these bills could lay the groundwork for a clearer, more supportive crypto policy landscape, giving investors more confidence to allocate capital into Bitcoin. This regulatory tailwind is also complemented by Trump's expansionary economic stance, which may further encourage capital flow into assets like BTC as a hedge. Market watchers are keeping a close eye on this week's CPI and PPI data as well as the incoming Trump tariffs set to go into effect on August 1. Earlier in the week, stocks saw a brief 'risk-off' reaction, but by mid-week, markets appeared to have settled. If inflation remains moderate and the tariffs don't spook markets too much, Bitcoin could benefit from a risk-on sentiment returning. Any signs of economic instability or weaker-than-expected growth could actually favor BTC, especially as a hedge against fiat uncertainty. Short-term pullbacks : If Bitcoin fails to hold support around $118K–$120K , we could see a dip to $110K before any further rally. : If Bitcoin fails to hold support around , we could see a dip to before any further rally. Regulatory delays : If Congress stalls on the GENIUS or CLARITY Acts, markets might lose momentum. : If Congress stalls on the GENIUS or CLARITY Acts, markets might lose momentum. Global uncertainty: Hawkish Fed policy, inflation shocks, or geopolitical tensions could all weigh on risk assets, including crypto. From a technical analysis perspective, the bullish case hinges on key price levels. The inverse head-and-shoulders pattern that completed when Bitcoin closed above $112,000 on Thursday is now driving attention toward the $130,000 and $143,000 levels. To realistically approach $150,000, analysts say BTC needs daily closes above $130,000, not just brief spikes. If this happens, it would likely trigger additional short squeezes in the futures market and draw in new retail and institutional buyers alike. The price is also being driven heavily by futures market activity, which causes sharp intra-day movements and can exaggerate trends. As such, keeping an eye on open interest and liquidation levels will be key in understanding how fast BTC can climb. The road to Bitcoin hitting $150,000 may not be immediate, but the pieces are slowly falling into place. With rising institutional inflows, strengthening ETF interest, supportive regulatory movement under the Trump administration, and a solid technical base, BTC's next breakout could be just around the corner. Bitcoin is clearly gaining serious momentum — and this time, the surge is backed by institutional demand, regulatory optimism, and strong technicals. While the ride to $150,000 won't be a straight line, all the ingredients are in place for a big breakout in the coming weeks. Whether you're holding or just watching from the sidelines, one thing is clear: Bitcoin isn't done yet. However, traders will need to watch for sustained closes above $130,000, monitor incoming macro data, and assess ongoing futures market dynamics. If all these align, Bitcoin could very well see $150,000 sooner than many expect. Q1: What will it take for Bitcoin price to hit $150,000? Bitcoin needs strong ETF inflows, daily closes above $130K, and positive market news to rally toward $150,000. Q2: How is the Trump administration impacting Bitcoin price? Trump's crypto bills and economic policy are adding momentum to Bitcoin's price rally.
Business Standard
15 minutes ago
- Business Standard
Somany Ceramics Acquires Majority Stake in Durabuild, Enters High-Growth Construction Chemicals Segment
PNN New Delhi [India], July 17: Somany Ceramics Ltd., one of India's most respected names in building materials, has acquired a majority stake in Durabuild, a Delhi-based manufacturer of construction chemicals, marking its strategic entry into the rapidly expanding construction chemicals market. Founded in 1998 by the late Dr. Dhananjoy Ghanti, a pioneer widely regarded as India's first construction chemical chemist and currently spearheaded by Mr Rudrabir Ghanti, Durabuild brings with it a strong legacy of R & D-driven innovation. With a product portfolio of over 200 SKUs across waterproofing systems, concrete admixtures, tile adhesives, protective coatings, grouts, sealants, and repair mortars, serving major institutional clients across North India. With its manufacturing base in Bahadurgarh, Durabuild has built a credible presence for over two decades. This acquisition marks a pivotal step in Somany's long-term strategy to transform into a total building solutions provider, offering products that not only elevate aesthetics but also strengthen the core of built structures. Durabuild will now operate under the flagship brand 'Somany', emerging as a strategic pillar within Somany's Home and Building Solutions vertical. India's construction chemicals market is on a strong growth trajectory. The waterproofing segment is currently estimated at USD 1.2 billion in 2024 and is projected to reach USD 2.0 billion by 2030, and the cement admixtures segment is expected to more than double to USD 1.9 billion by 2033. Speaking on the acquisition Mr. Abhishek Somany, Managing Director & CEO, Somany Ceramics, said "This acquisition is a strategic leap in our journey to become a full-spectrum building materials brand. Durabuild's technical heritage and institutional trust, combined with Somany's pan-India brand and distribution network, give us the right foundation to scale this business nationwide." Somany plans to deepen its footprint across India by building category awareness in selected segments of the construction chemical space. With this acquisition, Somany not only expands its product universe but also reinforces its brand promise - delivering both elegance and endurance to India's construction landscape. Grant Thorton Advisory Private Limited acted as the exclusive financial advisor for this transaction. About Somany Ceramics Limited: SOMANY Ceramics Limited (SCL) is one of the leading players in the ceramic industry in India and amongst the top 15 manufacturers in the world. The company is a complete solution provider in terms of decor solutions with the widest product selection of Ceramic Wall and Floor tiles, Polished Vitrified Tiles, Glazed Vitrified Tiles and Slabs, Sanitaryware, Bath Fittings, Adhesives, Grouts and Home & Building solutions. SOMANY has pan-India distribution across 12000+ retail points and has over 500 exclusive showrooms. It also exports to more than 80 countries across 6 continents. The company has a capacity to produce ~80 million square meters per annum of tiles through 2 company-owned plants, 5 strategic alliances, and tie-ups with outsourced partners spread across India. It also has manufacturing units for Sanitaryware, Bath fittings and Adhesives.
