The Obama administration lauded an agreement on trade rules struck by the World Trade Organization, while analysts said the deal may do more to salvage broader WTO talks than solve food shortages and help global commerce.
Negotiators are seeking to salvage the credibility of the World Trade Organization at a meeting in Bali this week, as the lack of agreement over farm subsidies threatens to end 12 years of talks on a global trade pact.
Indonesia is seeking higher tin prices as the largest exporter presses on with a policy that metal be traded on a local exchange before shipment, affirming a shift that roiled the market when it began three months ago.
Protesters in Jakarta burned Australian flags and called for a break in diplomatic ties as tensions between the two countries escalated to their highest level in 14 years over claims the phones of Indonesia’s leaders were tapped.
Former Foreign Minister Alexander Downer said Australia needs to maintain its intelligence- gathering abilities as Agriculture Minister Barnaby Joyce delayed a visit to Indonesia amid claims of spying.
The Indonesian government will stick with a rule change requiring tin producers to trade the metal locally before export, curbing supplies from the biggest shipper, and says the model may be applied to other commodities.
Indonesian President Susilo Bambang Yudhoyono’s party is putting its presidential hopefuls through an American Idol-style contest that will see them criss-crossing the country for eight months while footing some of the cost.