U.S. Violated International Regulations by Imposing Tariffs on Chinese Exports






The results of the SBSN auction on September 15, 2020, showed a decline from the previous SBSN auction. Total incoming bids on September 15 reached IDR 20.9 trillion, with a total amount awarded of IDR 9.5 trillion. Meanwhile, at the previous SBSN auction on September 1, 2020, the total incoming bids was IDR 38.3 trillion, with a total amount awarded of IDR 9.5 trillion. The yield on Government bonds reached the level of 6.9% on September 15, up 5 bps from the previous SBSN auction date (September 1), which was 6.86%.

The World Trade Organization’s ruling that the U.S. violated international regulations by imposing tariffs on more than $234 billion of Chinese exports failed to dissuade Washington of its ‘America First’ trade policy and will do little to alter the current trade environment. U.S. Trade Representative Robert Lighthizer said the WTO report released Tuesday “confirmed” President Donald Trump’s aggressive foreign policy that has sought to dismantle multilateral organizations like the Geneva-based trade body. (Bloomberg)

Source: Danareksa Sekuritas Debt Research

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