Morning Briefing: US’s Trade Deficit Touches the Lowest Level in Decade

Employment data in America Dropped in Septembet - Photo by the White House
JAKARTA (TheInsiderStories) — Good morning! United States (US) 2018’ goods trade deficit hit highest record, as strong domestic demand fueled by lower taxes pulled in imports. This occurred even though President Donald Trump did some efforts, such as had a trade war with China, to narrow trade gap.
During 2018, the trade deficit recorded at US$621 billion, the largest number in the last 10 years. According to the US’ Commerce Department, there is a 12.4 percent goods deficit hike to $891.3 billion in December that contributed to the shortfall.

On North Korea‘ issues, Trump said he was still hoping for the agreement that eluded the leaders at last week’ summit in Hanoi, Vietnam. He assured his relationship with the North Korean leader Kim Jong-un remains “good” even he walked away from the negotiations table. Trump urged that the North Korea’ concessions on its nuclear program weren’t enough to warrant sanctions relief.

While, Huawei Technologies Co. Ltd. has filed a lawsuit against the US government over a ban that restricts government agencies from using its products. In an official statement, the firm said the US Congress has “failed to produce any evidence to support its restrictions”.

The Chinese telecoms giant has recently gone on the offensive after months of intense international scrutiny. Huawei stated: “This ban not only is unlawful, but also restricts Huawei from engaging in fair competition, ultimately harming US consumers.”

Furthermore, Forbes released 2019’s World’s Billionaires lists which include dozens of Indonesian tycoons. Have been on the top in the last few years, Hartono brothers remain the richest persons in Indonesia, with Budi Hartono has $18.6 billion worth, followed by Michael Hartono with $$18.5 billion worth.
Sri Prakash Lohia of Indorama Corporation is on the third place and recorded has $7.3 billion. Afterwards, Mayapada Group’ Dato’ Sri Tahir and CT Corp’ Chairul Tanjung take place with $4.5 billion and $43.7 billion worth respectively.
The operator of the mass rapid transit in the capital city, PT MRT Jakarta aims to attract 285,600 passengers in its first public trial run, which takes place March 12 – 24. Train headway will be 10 minutes and the number of train cars operating will be seven.
Jakarta’ MRT will connect Lebak Bulus in South Jakarta to the Hotel Indonesia traffic circle in Central Jakarta with a distance of 16 kilometers.
Indonesian Government has contribute of one million dollars to keep working with Palestinian refugees. Indonesian Foreign Minister Retno Marsudi has met with the United Nation’ commissioner general, Pierre KrÃñhenbühl to give the aids. According to the agency, Indonesia has been a strong supporter of Palestinian refugees, establishing several multilateral initiatives over the years.
Yesterday, Indonesian police arrested lecturer and rights defender Robertus Robert, charging him with article 45 (2) and 28 (2) of the internet law on electronic defamation against the armed forces. He reported sang the Indonesian Army march during Thursday protest outside the State Palace. Robert is Amnesty Indonesia board member.
While, fresh winds have been blowing to financial and capital market. Rupiah strengthened by 0.12 percent to 14,143 over the Greenback. Meanwhile, Jakarta Composite Index increased by 0.25 percent to 6,457.95. A huge amount of foreign funding entered the market, amounted Rp4.12 trillion.
May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information About Indonesia