US-India Trade Tensions Escalated

MACROECONOMY
US-India Trade Tensions Escalated
The US imposed a 50% tariff on various Indian imports, including apparel, footwear, sports equipment, and furniture, effective 27 Aug-25, in retaliation for India’s continued purchase of Russian oil. The move heightened trade frictions, with India being the third largest exporter to the US after Brazil and China. Indian exporters, particularly from Gujarat, are expected to feel the impact, while the govt. aims to support industries through policy adjustments. The policy shift comes amid growing domestic debate in the US
ahead of upcoming elections. (Kontan)

INDUSTRY
Indonesia’s Palm Oil Output Hit 5-Year High in Jun-25
Indonesia’s palm oil production rose 15.96% MoM and 30.75% YoY to 5.29 mn tons in Jun-25, marking the highest monthly output in the last five years. The increase was driven by higher CPO output (+15.80% MoM to 4.82 mn tons) and PKO output (+17.42% MoM to 465k tons). (Kontan)

COMPANY
Summarecon Agung (SMRA) Reached IDR 3.1 tn Marketing Sales by Mid-Aug 25
SMRA recorded marketing sales of IDR 3.1 tn as of mid-Aug 25, equivalent to ~60% of its FY25 target of IDR 5 tn. In 2024, SMRA booked
IDR 4.36 tn marketing sales, below target, with 41% contributed by units benefiting from PPN DTP incentives. The Co. expects stable
mortgage rates to further support sales, following BI’s policy rate cut to 5% in Aug-25. (Kontan)

Bank Tabungan Negara (BBTN) Posted 13.6% YoY Net Profit Growth in 1H25
BBTN booked net profit of IDR 1.7 tn in 1H25, up 13.6% YoY, driven by 23.5% YoY growth in interest income to IDR 18.50 tn and efficiency
strategy. Loans rose 6.8% YoY to IDR 376.11 tn, while DPK grew 11.2% YoY to IDR 406.38 tn. (Emitennews)