Analisis Kinerja Keuangan Sebelum dan Sesudah Penetapan Tarif Impor Amerika Serikat kepada Indonesia pada Perusahaan Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia

Abstract

On April 2, 2025, the United States officially announced a reciprocal tariff policy, part of Independence Day, as an effort to boost the United States economy from dependence on imported products from other countries, while also balancing the trade deficit and boosting the United States' domestic industry. As a developing country, Indonesia felt the impact of the reciprocal tariff. In an official announcement from the White House website on April 2, 2025, the United States government set a 32% tariff on Indonesian products. The determination of this reciprocal tariff certainly affects the performance of domestic companies, especially their financial performance. This study aims to analyze the financial performance of companies before and after the imposition of US import tariffs on Indonesia in the textile and garment manufacturing sector. This study is descriptive quantitative with data collection taken from financial reports available on the Indonesia Stock Exchange. Data analysis was carried out using measurements based on research variables (Current Ratio, Return on Assets, Return on Equity, Debt to Equity Ratio, Total Asset Turnover), descriptive statistics, data normality tests using Shapiro Wilk, and hypothesis testing using the Paired Sample T-test. The results of the study indicate that financial performance, measured using the Current Ratio, Return on Equity, and Total Asset Turnover variables, showed insignificant changes before and after the import tariffs were imposed. Meanwhile, the Return on Assets and Debt to Equity Ratio variables showed no significant changes before and after the import tariffs were imposed. The implications of this study emphasize the importance of maintaining a company's resources and ability to manage its assets in anticipation of international economic uncertainty.