Indonesia's exports up 11.29% y/y in June
JAKARTA :Indonesia's exports in June rose 11.29 per cent on a yearly basis to $23.44 billion, data from the country's statistics bureau showed on Friday, higher than the 10.41 per cent forecast by economists polled by Reuters.
Indonesian exporters in recent months have brought forward their shipments to the United States ahead of the latest deadline set by President Donald Trump for tariff negotiations.
Indonesia emerged as one of the earliest countries to strike a deal with Washington to lower the U.S. tariff to 19 per cent, from a previously threatened level of 32 per cent, ahead of the Aug. 1 deadline.
In the negotiations, Jakarta agreed to eliminate most tariffs affecting U.S. industrial and agricultural products and to buy more American goods.
U.S. President Donald Trump issued an executive order saying the new tariff rates will be implemented in seven days.
Southeast Asia's largest economy booked a $4.11 billion surplus in June, higher than the poll's forecast of $3.45 billion but down slightly from $4.30 billion in May.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
8 minutes ago
- CNA
Brazil, Japan beef talks focus on smaller Brazilian states, upsetting industry
SAO PAULO :Ongoing talks to open the Japanese market to Brazilian beef are focusing on supplies from three small Brazilian exporting states, upsetting other parts of the South American country's industry that are eager to reach the high-paying customers, according to multiple sources. Brazil, the world's biggest beef exporter, has tried for two decades to crack the Japanese market without success. A deal would give Japan an alternative to its top suppliers, the United States and Australia, at a time when U.S. tariffs are reshaping global food trade. Negotiations gained momentum after a state visit of Brazil's President Luiz Inacio Lula da Silva in March to Japan, one of the world's largest beef importers. But the current state of talks, which focus on states representing less than 4 per cent of Brazil's exports by volume, worries meatpackers in the big beef-producing states of Sao Paulo, Mato Grosso, Mato Grosso do Sul, and Para. Together, they accounted for nearly 60 per cent of Brazil's total beef exports, or 1.72 million metric tons last year. A Brazilian government memo, issued after a technical visit by Japanese officials in June, showed Brasília answered "a questionnaire for the import of beef from the southern part of the Republic Federation of Brazil," naming Rio Grande do Sul, Parana, and Santa Catarina. Those three small exporting states were declared free of foot-and-mouth, a contagious viral disease in cattle, earlier than the other states, although Brazil acquired in May the national status of being free of the disease without vaccination from the World Organization for Animal Health. Brazil's last outbreak of the disease was in 2006, according to the government. The Brazilian Agriculture Ministry did not have an immediate comment on its talks with Japan. A local government source, who asked not to be named, confirmed talks were taking place by region. The person said Brazil initially has no plans to negotiate permits beyond the three states. Beef sector representatives, including exporters, told Reuters they hope more states will be included. "We know talks are difficult," said Paulo Mustefaga, head of beef lobbying group Abrafrigo, which represents Marfrig and smaller beef exporters. "The surprise for us is that this is now moving towards approval for only three states." Japan's Ministry of Agriculture, Forestry and Fisheries said it was aware of Brazil's status of being free of foot-and-mouth disease. It added that Japan is "conducting a risk assessment in accordance with Japanese procedures" ahead of issuing any export permits to Brazilian meatpackers, without elaborating.
CNA
8 minutes ago
- CNA
Zelenskiy says he had 'productive' call with Trump ahead of ceasefire deadline
KYIV: Ukrainian President Volodymyr Zelenskiy said on Tuesday (Aug 5) that he had a "productive" conversation with US President Donald Trump on ending the war, sanctions on Russia, and finalising a US-Ukraine drone deal. "President Trump is fully informed about Russian strikes on Kyiv and other cities and communities," Zelenskiy wrote on X, referring to intensifying drone and missile attacks. Trump, who has signalled frustration with Russian President Vladimir Putin in recent weeks, has given the Kremlin leader until Thursday (Aug 8) to make peace in Ukraine or face tougher sanctions. A source in Washington said US envoy Steve Witkoff would be meeting the Russian leadership in Moscow on Wednesday. CEASEFIRE EFFORTS AND DRONE DEAL Speaking in his nightly video address, Zelenskiy said Trump "knows the situation along the front line," which stretches 1,000km through eastern and southern Ukraine. Ukraine, he said, had long supported US proposals for an immediate ceasefire and had proposed multiple formats to halt the fighting. "We have spoken with and proposed to Russia quiet in the skies, no missile and drone attacks and specifically no attacks on civilian infrastructure or on the energy sector," Zelenskiy said. "All of this has been violated by the Russians and in a very cynical fashion." Trump has threatened to impose new sanctions and levy 100 per cent tariffs on countries that purchase Russian oil. However, sources close to the Kremlin told Reuters that Putin is unlikely to yield to the ultimatum. Zelenskiy also said Ukraine was ready to conclude a deal with the United States on the purchase of Ukrainian-made drones. The deal, previously valued at around US$30 billion, would be "one of the strongest agreements," he said. Ukraine is increasingly relying on foreign investment to bolster its domestic arms industry. Zelenskiy added that Kyiv's European partners had already pledged to buy over US$1 billion worth of American weapons for Ukraine under a new procurement scheme.
Straits Times
2 hours ago
- Straits Times
Standing on White House roof, Trump jokes about installing missiles
Sign up now: Get ST's newsletters delivered to your inbox US President Donald Trump responds to a question from the news media as he tours the roof at the White House. WASHINGTON - Mr Donald Trump made an unexpected appearance Aug 5 on a White House rooftop and joked about installing nuclear missiles at a time of escalating tensions with Russia. The US president, flanked by bodyguards and under the protection of snipers, strolled for 20 minutes on the flat roof above the press room as he looked across to the site of his proposed new ballroom. Asked why he was on the roof, he replied he was just 'taking a little walk.' Quizzed about what he intended to build, he joked 'nuclear missiles,' before appearing to mimic the launch of a weapon with his arm. The United States and Russia have engaged in heated rhetoric for several days. Mr Trump last week ordered the deployment of two nuclear submarines near Russia in response to remarks he deemed provocative by former Russian president Dmitri Medvedev. US$200 million project With his planned ballroom and other projects, Mr Trump is determined to leave an imprint on the White House, drawing inspiration from the opulent style of his private properties. Top stories Swipe. Select. Stay informed. Singapore More train rides taken in first half-year, but overall public transport use stays below 2019 levels Singapore BlueSG needs time to develop software, refresh fleet, say ex-insiders after winding-down news Asia Cambodia-Thailand border clash a setback for Asean: Vivian Balakrishnan Singapore 'She had a whole life ahead of her': Boyfriend mourns Yishun fatal crash victim Singapore Doctor hounded ex-girlfriend, threatened to share her intimate photos, abducted her off street Asia Trump's transactional foreign policy fuels 'US scepticism' in Taiwan Business Women on corporate boards give firms a competitive advantage, says Australian Governor-General Singapore CEO of sports car distributor accused of offences including multiple counts of false trading He has paved the lawn of the famous Rose Garden and adorned the Oval Office with lavish golden ornamentation. The 79-year-old leader recently announced plans for the ballroom, in what is shaping up to be the most significant project at 1600 Pennsylvania Avenue in over a century. He has vowed that he – with perhaps some help from private donors – would pay for all the work, estimated at US$200 million (S$258 million). 'It's just another way to spend my money for the country,' he said on Aug 5. A former reality TV host, Mr Trump is known for his public appearances that are half-comical, half-provocative, delighting his supporters and providing television networks with the images they relish. In 2015, he announced his presidential candidacy after slowly descending a golden escalator. And during the last presidential campaign, he staged photo ops in a garbage truck cabin and served fries in a McDonald's restaurant. AFP
