Differences in Share Prices, Rupiah Exchange Rates, Export Volumes Before and After Trump's Tariff Announcement
Keywords:
Export Volume; Rupiah Exchange Rate; Share Prices; Trump’s Tariff AnnouncementAbstract
US trade policy has the potential to cause volatility in the financial markets of developing countries, including Indonesia, through changes in import policy that affect market sentiment and macroeconomic stability. This study aims to analyse differences in stock prices, rupiah exchange rates, and export volumes before and after Trump's tariff announcement on 2 April 2025, focusing on companies in the IDX30 index. The research approach used is quantitative with a comparative method to compare data before and after the event. The data analysis technique uses a paired sample t-test. The results show that there were no differences in stock prices, rupiah exchange rates, and export volumes before and after Trump's tariff announcement. These findings indicate that Trump's tariff announcement did not have a significant impact on the stock prices of companies in the IDX30 index, and that the rupiah exchange rate and export volumes tended to remain stable after the announcement. These results show that Indonesia's capital market and macroeconomic variables are able to maintain stability in the face of international trade policy dynamics. This study contributes to the development of an understanding of the transmission mechanism of international tariff policy impacts on the Indonesian economy.
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