Trump Imposes 25% Tariff on Imported Trucks Effective 01-Nov

MACROECONOMY 
Trump Imposes 25% Tariff on Imported Trucks Effective 01-Nov 
U.S. President Donald Trump announced a 25% import tariff on medium- and heavy-duty trucks starting 01 Nov-25, expanding his administration’s protectionist measures to safeguard domestic manufacturing. The move follows months of lobbying from major automakers and delays from an earlier planned 01-Oct start. About 245,000 imported trucks worth over USD 20 bn entered the U.S. last year, mainly from Mexico and Europe. The policy is expected to raise costs for logistics, construction, and public service fleets, while benefiting domestic producers such as Ford, GM, and Paccar. (Bloomberg Technoz) 

INDUSTRY 
Copper Prices Hit 16-Month High on Supply Concerns from Chile and Indonesia 
Copper climbed 0.4% to USD 10,760/ton on 06 Oct-25, marking the highest level since May-24 amid mounting supply concerns from top producers Chile and Indonesia. The rally followed disruptions at Freeport’s Grasberg mine, where a mudslide caused fatalities, potentially cutting global copper output by 591 Kt through end-2026. Chile’s output also dropped 9.9% YoY in Aug-25 after an accident at Codelco. Analysts at Goldman Sachs, Citi, and Bank of America raised their price forecasts as supply risks persisted, while aluminium stabilized at USD 2,707/ton and nickel eased 0.2% to USD 15,400/ton. (Reuters) 

India’s Palm Oil Imports Dropped 15.9% in Sep-25 on Excess Stock and Price Gap 
India’s palm oil imports declined 15.9% MoM to 833 Kt in Sep-25, the lowest since May, as refiners switched to cheaper soy oil amid high palm oil prices. According to GAPKI, the drop followed heavy imports from Indonesia in Jul–Aug, leaving sufficient stock. Palm oil now trades above other vegetable oils due to stagnant production in Indonesia and Malaysia, while soy oil imports surged 37.3% to 505 Kt. (Kontan) 

Chemical, Pharmaceutical, and Textile Industry (IKFT) Records 6.70% YoY Growth in 2Q25 
The IKFT sector booked 6.70% YoY growth and contributed 3.82% to GDP, driven by stronger industrial structure, rising exports, and consistent policy support. The Non-Metallic Mineral Industry led with 10.07% growth, followed by Chemical, Pharmaceutical, and Traditional Medicine at 9.39%, and Leather, Goods, and Footwear at 8.31%. During 8M25, footwear exports (HS 64) rose 11.89% YoY to USD 5.16 bn, while textiles and textile products (HS 50–63) inched up 0.24% to USD 8.01 bn, bringing combined exports to USD 13.17 bn (+4.51% YoY) and chemical products (HS 38) to USD 6.12 bn. (Emitennews) 

COMPANY 
Astra Otoparts (AUTO) Distributed IDR 59/sh Interim Dividend 
AUTO announced an interim dividend of IDR 59/sh (Div. yield: 2.5%) for FY25, following BoD approval on 29 Sep-25 and BoC approval on 03 Oct-25. The schedule is as follows: 
- Cum div regular & negotiation: 14 Oct-25 
- Ex div regular & negotiation: 15 Oct-25 
- Cum div cash: 16 Oct-25 
- Ex div cash: 17 Oct-25 
- Recording date: 16 Oct-25 
- Payment date: 24 Oct-25 (Company)