Kebijakan Tarif Resiprokal Trump Bisa Lemahkan Rupiah

Summary

The announcement of a 32% tariff by U.S. President Donald Trump on goods imported from Indonesia, effective April 2, 2025, has sparked concern. The policy affects sectors like footwear, apparel, textiles, electronics, and automotive, which are key export categories for Indonesia. Experts warn of potential job losses, especially in labor-intensive industries. The policy also threatens to weaken the Indonesian Rupiah and trigger a sell-off in the stock market. Indonesian officials urge the government to negotiate with the U.S. and take steps to stabilize the economy, including adjusting interest rates and intervening in the currency market.

Takeaways

• 😀 The U.S. introduced a 32% tariff on goods imported from Indonesia, announced by President Donald Trump on April 2, 2025.
• 😀 Indonesia's economy, particularly sectors like footwear, textiles, automotive, and electronics, will be significantly impacted by the tariff.
• 😀 The increased tariffs could lead to a wave of layoffs in Indonesia, especially in labor-intensive industries such as apparel and footwear.
• 😀 Major Indonesian exports to the U.S. include garments and footwear, which could face reduced demand due to the new tariff.
• 😀 The policy could cause a decrease in orders, resulting in reduced efficiency and potential job losses in Indonesia's workforce.
• 😀 The Indonesian Chamber of Commerce (KADIN) is urging the government to negotiate with the U.S. to reconsider the tariff policy.
• 😀 Electronics and garments exports from Indonesia contributed significantly to the economy, totaling $3.45 billion and $4.35 billion in 2023, respectively.
• 😀 The new tariff policy is not only affecting industries but also having a negative impact on Indonesia's financial markets, including the Rupiah exchange rate and stock market.
• 😀 The weakening of the Rupiah is expected to continue unless intervention from Bank Indonesia, such as monetary operations or interest rate adjustments, occurs.
• 😀 Indonesia's stock market may experience capital outflows as investors look for safer assets abroad due to the increased risk in emerging markets.
• 😀 There are concerns about the stability of the economy with the potential for foreign investors to withdraw, which could exacerbate Indonesia's financial challenges.

Q & A

What was the key policy announced by US President Donald Trump on April 2, 2025?

President Donald Trump announced a 32% tariff on goods imported from Indonesia, which had significant repercussions for the affected countries, including Indonesia.

What are some of the industries in Indonesia that will be most impacted by the new tariff?

The industries most impacted include footwear, apparel, textiles, steel, automotive, and electronics.

What is the potential consequence of the tariff increase for Indonesian workers?

The tariff increase could lead to layoffs in Indonesia, particularly in sectors like apparel and footwear, which employ a large number of workers.

What does Bima Yudistira of the Center for Economic and Law Studies (SELIOS) predict about the impact of the tariffs?

Bima Yudistira predicts that the tariff increase will likely reduce demand for Indonesian exports, resulting in fewer orders and potential job losses in sectors like clothing and footwear, which are heavily dependent on exports to the US.

How does the Indonesian Chamber of Commerce and Industry (KADIN) suggest the government should respond?

KADIN's Vice Chairman for Trade and Foreign Affairs, Pahala Mansuri, urges the government to negotiate with the US to reduce or eliminate the tariffs.

How significant are electronics and garments in Indonesia's export market to the US?

In 2023, electronics accounted for $3.45 billion in exports, while garments made up $4.35 billion in exports to the US.

How could the new tariff policy affect Indonesia's currency and stock market?

The policy could weaken the Rupiah and lead to further declines in the stock market. There is a concern that the market may face significant turbulence when trading resumes.

What actions does the script suggest the Indonesian government take to mitigate the economic effects?

The government is advised to intervene in the foreign exchange market, conduct monetary operations, and adjust interest rates by 50 basis points to help businesses affected by the tariff increase.

What is the potential impact on foreign investors in Indonesia's capital markets?

Foreign investors may pull their investments from Indonesia's capital markets, opting for safer assets abroad, especially if the risk perception of investing in emerging markets increases.

What specific economic policies or political issues should be addressed to stabilize the market according to the script?

The script suggests that controversial policies, such as the revised Police Law (RUU Polri) and the Criminal Code (RUU KUHAP), should be delayed to maintain political stability and help attract industrial relocation opportunities to Indonesia.