Last week the emerging markets concerned about Trump’s tariff on imported steel and aluminum. Markets feared that the plan is potential for igniting further global trade war. The countries such as EU and China raised statements about intention of any revenge on the U.S. trade protectionist strategy.
Warning from Moody’s
JCI’s last-week declined last was significantly affected by Moody’s negative statement about the Indonesian government decision on freezing the subsidized fuel and electricity tariff until 2019. Moody’s said that the plan was the backward step in the fiscal reformation agenda. The government previously announced to increase the budget for energy subsidy amid the challenge of the energy prices with a view of maintaining domestic purchasing power.
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