President Prabowo Subianto has ordered the government to reduce business regulations, including local content requirements and import restrictions, in response to impending US tariffs on Indonesian goods. At a public economic forum, Prabowo emphasized his mission to deregulate the economy and simplify business processes, aiming to make local content requirements more flexible and eliminate import quotas. This move seeks to reduce Indonesia's US$18 billion trade surplus with the US by increasing imports of American products such as wheat, soybeans, cotton, liquefied petroleum gas, oil, and oil drilling machines. The announcement comes amid escalating trade tensions and market volatility. The Indonesia Stock Exchange (IDX) Composite index plunged 9.2 percent shortly after opening on Tuesday (08/04/2025), triggering an automatic trading halt. Although the index rebounded slightly by the afternoon, it still marked a significant daily drop. Analysts have warned that the local bourse would not remain unscathed following the global market sell-off. Despite government promises of deregulation aimed at boosting investor confidence, concerns remain about the impact of elevated US import tariffs and weaker economic growth on corporate earnings.Source: https://www.thejakartapost.com/business/2025/04/08/prabowo-vows-to-dismantle-business-regulations.html (ICE GIACARTA)

Fonte notizia: The Jakarta Post, 8 April 2025