Publication Search

This study aims to analyze the reaction of the Indonesian capital market to the announcement of Donald Trump’s import tariff policy using an event study approach. Market reactions are measured through abnormal return and trading volume activity of exporting companies listed on the Indonesia Stock Exchange (IDX), with an event window of three trading days before and three trading days after the initial tariff announcement on April 2, 2025 and the revised tariff announcement on July 15, 2025. This study employs secondary data in the form of daily stock prices and trading volumes, analyzed using descriptive statistics, normality tests, and the Wilcoxon Signed Rank Test. The results indicate that the Indonesian capital market reacts to the announcement of Donald Trump’s import tariff policy, as reflected by differences in abnormal return and trading volume activity before and after the announcements, thereby supporting signaling theory and the semi-strong form of market efficiency.

The reciprocal tariff policy has a significant impact on a number of countries, including Indonesia. In this scheme, Indonesian non-oil and gas products are subject to a tariff of 32% when entering the US market. Such a high tariff places Indonesian exporters in a less competitive position compared to other countries that have more favorable trade arrangements with the United States. This condition becomes more complex when viewed in the broader context of the US-EU trade war, which creates uncertainty and turbulence in the global economy. Indonesian exports are affected both directly and indirectly. Indirect impacts can be seen from disruptions to the global supply chain, the slowdown in the world economy, and decreased global demand. As global production networks become increasingly interconnected, any disruption in major economies will ultimately suppress demand for Indonesian export commodities. This means that even if Indonesian products are not directly targeted, the ripple effects of global trade tensions will still hinder Indonesia’s export performance. For instance, reduced consumption in Europe and the US due to rising product prices and inflation will diminish market opportunities for Indonesian goods.On the other hand, direct impacts arise because several Indonesian products have been explicitly subjected to tariffs by the US government. These include textiles and textile products (TPT), electronics and their components, footwear, furniture, and palm oil (crude palm oil/CPO). Such tariffs significantly reduce Indonesia’s competitiveness in the US market, potentially leading to decreased export volumes, lower revenues for domestic industries, and job losses in export-oriented sectors. Furthermore, the policy also makes European products much more expensive in the US market, which worsens the global supply chain, increases logistics costs, triggers inflation, and escalates uncertainty in international trade.

This study aims to analyze the determination of public service tariffs at the local government level. The method used is a qualitative approach with data collection techniques in the form of literature studies, observations, and policy documentation. The results of the study indicate that tariff determination is not yet fully transparent and participatory. A fair, efficient, and community-involved tariff policy is needed to increase the legitimacy and sustainability of public services.

Trade wars and protectionism have again become major issues in global economic dynamics, especially since trade tensions between the United States and China began in 2018. This research aims to analyze tariff policy as part of a protectionist strategy in the context of the political economy of bilateral trade relations. Using a qualitative approach with case studies and document analysis, data were obtained from policy reports, scientific journals, and trade statistics. The results show that tariff policies are often not purely based on economic considerations, but are also influenced by domestic political interests, industry group pressure, and global negotiation strategies. On the other hand, these policies have a significant impact on the structure of bilateral trade relations, trade volume, and global supply chains. Indonesia as a partner country is also affected, both directly through changes in export-import values, and indirectly through supply and investment disruptions. Policy implications show the importance of developing countries' preparedness in anticipating changes in global trade policies and encouraging the formulation of adaptive and competitive national strategies. This study provides recommendations for policymakers to balance national interests with global dynamics.

This study examines the adaptive strategies employed by small and medium-sized enterprises (SMEs) in Shenzhen in response to the decoupling trend associated with the new US tariff policy. Given the' increasing complexity and unpredictability of international trade dynamics, Shenzhen SMEs must innovate and diversify their operational approaches to sustain competitiveness. The re-search highlights the significance of enhancing innovation capabilities, which enable SMEs to de-velop new products and services that meet shifting market demands. Additionally, the study empha-sizes the importance of market diversification and supply chain flexibility, allowing SMEs to miti-gate risks related to tariff impacts. Collaborative networks facilitate resource sharing and knowledge exchange, further bolstering adaptability. The findings indicate that by fostering a proactive entre-preneurial orientation and engaging with policymakers, Shenzhen SMEs can effectively navigate the challenges posed by the US tariff policy, ensuring long-term sustainability and growth in a competi-tive landscape through a sample of 190 SMEs in April of 2025.

PDAM tariffs and policies have a very important role in maintaining the availability of clean water and quality services for the community. Economically, the tariffs set by PDAM enable the provision of clean water in a sustainable manner with operational finance, infrastructure maintenance, and investment in developing the water distribution network. This research aims to reveal the impact of PDAM Tirtanadi's tariff adjustment policy on customer satisfaction. Adjusting air tariffs is an important step for PDAMs to finance infrastructure maintenance and operations, but this can also have an impact on customer satisfaction. The research method used is qualitative research with a descriptive approach. Qualitative research makes it possible to describe phenomena in depth, including the impact of PDAM Tirtanadi's tariff policy on customer satisfaction. In the descriptive method, the main focus is on a detailed and in-depth description of the observed phenomenon, without carrying out statistical analysis. The data used in this research comes from writings contained in books, scientific journals, previous research and through interviews with customers and related parties of PDAM Tirtanadi Medan Denai Branch during college internships. The results of this research indicate that the tariff adjustment policy creates hopes and concerns among customers, who hope that service quality will increase in line with tariff increases. In addition, this research also identifies factors that influence customer perceptions of tariff policies, including the quality of services provided, transparency in the use of funds, and responsiveness to customer complaints. The implications of this research are the importance of considering customer needs and expectations in designing adequate tariff policies, as well as the importance of transparency and accountability in providing public services such as the provision of drinking water.