The United States and Indonesia announced they have signed a trade deal, with Indonesia agreeing to open its borders wider to American goods, the New York Times reported. The deal, announced on Thursday, includes zero tariffs on virtually all U.S. exports to Indonesia and a 19 percent tariff on Indonesian goods. It formalizes an agreement the two countries made last July, making Indonesia the third country in Southeast Asia to lock in lower tariffs after Malaysia and Cambodia. Mr. Trump had threatened Indonesia with a 32 percent tariff at one point last year.

Indonesian and U.S. companies on Wednesday signed deals worth $38.4 billion ahead of Indonesian President Prabowo Subianto's meeting with U.S. President Donald Trump to sign a final trade pact, the Indonesian government said in a statement, Reuters reported. The 11 deals, signed at a dinner for Prabowo hosted by the U.S. Chamber of Commerce, were for partnerships in mining, energy, agribusiness, textiles, furniture and technology sectors, according to the statement.

Indonesia's stocks and currency skidded on Friday after Moody's lowered the country's credit rating outlook, the latest jolt for Southeast Asia's largest economy, wiping about $120 billion off its equity market in a turbulent start to the year, Reuters reported. International investors have reacted nervously to President Prabowo Subianto's attempt to ramp up growth to 8%, as concerns over fiscal health and central bank independence cool sentiment on Indonesia.

The heads of Indonesia's financial regulator and stock exchange resigned suddenly on Friday in a shake up that followed this week's $80 billion stock market rout and mounting concerns over transparency and governance, Reuters reported. The departures followed a warning from MSCI that it may downgrade Indonesian equities to "frontier" status, a move that helped trigger the steepest two‑day fall in Jakarta stocks since April and intensified pressure on authorities to restore investor confidence.

A U.S. trade agreement reached with Indonesia in July is at risk of collapsing because Jakarta has backtracked on several commitments it made as part of the deal, a U.S. official said on Tuesday, Reuters reported. "They're reneging on what we agreed to in July," said the official, who spoke on condition of anonymity, giving no details about which specific commitments Indonesia was now questioning. Asked about the comments, Indonesian officials said on Wednesday that the talks between two sides are still ongoing, with no specific issues arising during negotiations.

Indonesia plans to issue rules next year to set up trustee institutions and special-purpose vehicles aimed at spurring investment — a move that will also allow state fund Danantara to create a trust fund for onshore capital, Bloomberg News reported.

Indonesia’s central bank surprised markets by leaving interest rates on hold at its October meeting, pausing after three consecutive cuts as it keeps an eye on the rupiah, the Wall Street Journal reported. Bank Indonesia held its benchmark seven-day reverse repo rate at 4.75% on Wednesday. The rupiah strengthened slightly after the decision, which Gov. Perry Warjiyo said is consistent with the central bank’s expectations of low inflation within the 1.5%-3.5% target range and its mandate to maintain currency stability amid global uncertainty.

Indonesian shrimp packer Panca Mitra Multi Perdana (PMMP) has agreed to pay outstanding wages and severance to hundreds of laid-off staff after the local government said that it would declare the business bankrupt, reports Antara reported. PMMP was under scrutiny in September after more than 200 former employees reported not receiving wages, severance pay and other entitlements following layoffs, as Undercurrent News reported.

Indonesia and the European Union have signed a long-awaited trade deal that comes as Asian countries reposition themselves in a landscape reshaped by U.S. tariffs, the Wall Street Journal reported. The pact, which Jakarta and the EU have been negotiating for over nine years, was inked Tuesday during European Commissioner for Trade & Economic Security Maroš Šefčovič’s visit to Indonesia. “This agreement eliminates over 98% of tariffs, removing nearly all barriers to trade and opening new pathways for investment,” the European official said.

Indonesia’s central bank surprised markets by continuing its rate-cutting cycle amid domestic political uncertainty and ahead of a closely watched Federal Reserve meeting, the Wall Street Journal reported. Bank Indonesia lowered its benchmark seven-day reverse repo rate by 25 basis points to 4.75% on Wednesday, following back-to-back cuts in July and August. The move came on the cusp of a highly anticipated Federal Reserve meeting, where investors widely expect a 25-basis-point cut. The U.S.