Indonesia Plans to Require E-commerce Platforms to Withhold Sales Tax from Small and Medium Sellers; Platforms Oppose the Policy
June 25 - Indonesia is planning to introduce a new regulation that will require e-commerce platforms such as TikTok Shop, Shopee, and Lazada to withhold 0.5% sales tax from small and medium-sized sellers with annual turnover ranging from 500 million to 4.8 billion Indonesian rupiah (approximately 30,000 to 300,000 US dollars). The move aims to alleviate the country's weak tax revenue and balance competition between physical stores and e-commerce businesses.
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G20 Pledges Strengthened International Policy Cooperation
G20 finance ministers and central bank governors have issued a joint communiqué, committing to enhance international policy cooperation and sending a signal in support of multilateralism. They emphasized the need to end global trade conflicts soon and called on the U.S. and Europe to reach a fair agreement on tariffs.
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U.S. Aid Cuts Leave Dozens of Global Infrastructure Projects Abandoned
Reuters, citing sources and documents, reports that dozens of global health and water supply infrastructure projects have been halted after the U.S. terminated related aid. The news agency verified 21 stalled projects across 16 countries.
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U.S. House Approves Two Crypto Bills to Boost Legitimacy
On July 17, the U.S. House passed two key crypto bills, marking the first major step toward formal industry regulations. The moves aim to legalize digital assets and pave their way to mainstream financial status.
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U.S. Launches Section 301 Investigation Against Brazil
The Office of the United States Trade Representative (USTR) announced the initiation of a Section 301 investigation into Brazil. The probe will examine whether Brazil’s policies and practices in areas such as digital trade, electronic payment services, "unfair" preferential tariffs, intellectual property protection, ethanol market access, and deforestation-related measures negatively impact U.S. trade interests.
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Singapore Leads Globally in Cross-Border Shopping Penetration with Strong Consumer Vigor
Singapore has shown strong momentum in the cross-border e-commerce sector, with a cross-border shopping penetration rate of 69%, ranking first in the world. Data shows that 98% of Singaporean consumers are willing to shop overseas, far exceeding the global average, and 69% of them make cross-border purchases at least once a month.
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