Indonesia to 'aggressively' defend currency after Trump tariffs ...0

Trading is set to resume Tuesday for the first time since Trump last week imposed levies on friends and foes alike, rattling stock markets and alarming governments around the world.

Global markets plunged Monday after China hammered the United States with its own hefty tariffs, ramping up a trade war many fear could spark a recession.

“Bank Indonesia will also intervene aggressively in the domestic foreign exchange markets... after opening on 8th April 2025, while purchasing government securities (SBN) in the secondary market,“ it said in a statement.

President Prabowo Subianto said Monday the country would negotiate with Washington to ask for a better deal.

Washington appears to have particularly taken aim at countries that the United States has a large trade deficit with.

Cambodia, Laos and Vietnam were some of the worst-hit nations, being hit with tariffs of more than 40 percent.

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