JAKARTA: Indonesia is worried about being targeted by Donald Trump in a wider protectionist push, as trade tensions between the US and China continue to escalate, a senior minister said.
World markets were rattled this week as China and the US announced tit-for-tat tariffs on hundreds of goods, adding to concerns about potential spillover effects for countries across Asia. The program is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries. Earlier this year, the US indicated it would remove India from the program.
The deficit was 2.6% of gross domestic product in the first quarter, above the central bank’s projection of a 2.5% average for the year. “We might have to wait a little bit for any relaxation of the interest rate,” Brodjonegoro said. “The central bank and the government need to look at the volatility in the global market. I don’t think reducing the rate would be helpful given the volatility.’
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