IMPLIKASI KEBIJAKAN TARIF RECIPROCAL TRUMP TERHADAP EMITEN DI PASAR MODAL INDONESIA

Abstract

This research is motivated by the determination of reciprocal tariffs conveyed by the President of the United States (US) Donald Trump against countries that have been trading partners, but the US actually experiences a trade deficit, so it is necessary to increase import tariffs and invite counterpart countries to negotiate. If there is an international event or policy taken by a superpower, this will certainly have an impact on countries around the world, whether it affects large or small, the most vulnerable and first sector to be affected is the financial sector, then the financial market, especially the capital market, is writhing wildly in responding to the policy, especially in examining issuers who have large export exposure to the US, therefore how much influence does Trump's policy have on issuers through the performance of issuer stock movements such as WOOD, GJTL, PMMP, SMSM, TRIS, INKP, JPFA, ISSP and ICBP. The research method used in the initial stage was the Kruskal-Wallis and Mann Whitney Different Tests, the second stage used the path with the smartPLS program. The results of this study indicate the importance of maintaining international trade relations, especially exports and imports, which can influence the trade balance, which has a fairly broad impact on the financial sector like equity market as well.