Trump Imposed New Import Tariffs on Japan, Korea, Laos, and Others

MACROECONOMY 
Trump Imposed New Import Tariffs on Japan, Korea, Laos, and Others 
Trump announced new import tariffs effective 01 Aug-25: 25% for Japan, Korea, Malaysia, and Kazakhstan, 30% for South Africa, and 40% for Laos and Myanmar. The US warned it would add any reciprocal tariff increase to the base rate. The decision follows limited trade deals reached with only the UK and Vietnam before the original 09 Jul-25 deadline, which is now extended to 01 Aug-25. Trump also threatened 17% tariffs on EU food/agri products and an additional 10% on BRICS nations deemed “anti-American.” (Bisnis.com) 

COMPANY 
Bumi Serpong Damai (BSDE) Divests Shares in Bumi Tirta Mas 
BSDE divested all its shares in Bumi Tirta Mas (BTM) to Alpha Water Indonesia (AWI) and Utilitas Mas Indonesia (UMI) on 26 Jun-25, with a total nominal value of IDR 7 bn. Post-transaction, AWI holds 99.99% of BTM, UMI the remaining 0.01%. BSDE cited the move as part of its strategy to refocus on core property and integrated area development. As all entities fall under Sinarmas Land Ltd. Singapore, the transaction is classified as an affiliated deal under POJK No.42/2020. (Emitennews) 
 

Merdeka Copper Gold (MDKA) Targets Strong Gold Output and Margins in 2025 MDKA is targeting a gold production of 100.000–110.000 oz in 2025. The Pani Gold Project, now 49% complete, is set to begin operations by late 2025. With cash costs at USD 932/oz and AISC at USD 1.319/oz, MDKA posted a 75% YoY operating margin. In 1Q25, it has sold 36.796 ounces of gold, earning USD 109,9 mn, including USD 8,5 mn from silver by-products. (Kontan) 

Medco Energi Internasional (MEDC) Grants IDR 2.4 Tn Interest-Free Loan to Subsidiary 
MEDC has provided an interest-free loan worth IDR 2.4 tn (approx. USD 50 mn) to it subsidiary, Mitra Energi Pelayaran. The loan, disbursed in stages and without a set maturity date, is intended to support the subsidiary’s operations and financial stability. This move is not expected to significantly affect Medco’s consolidated financial condition, as Mitra Energi Pelayaran is fully owned by the parent company. (CNBC Indonesia)