Indonesia's President Prabowo Subianto announced a new regulation requiring a state-owned enterprise to handle exports of coal, palm oil, and iron alloys by September, citing goals to increase tax revenues and combat underreporting. The policy, which experts liken to a hostile takeover, will significantly impact China—Indonesia's largest trading partner—and could reshape global supply chains for critical commodities.
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Indonesia's President Prabowo Subianto announced a new regulation requiring a state-owned enterprise to handle exports of coal, palm oil, and iron alloys by September, citing goals to increase tax revenues and combat underreporting. The policy, which experts liken to a hostile takeover, will significantly impact China—Indonesia's largest trading partner—and could reshape global supply chains for critical commodities.