Singapore to weigh wider trade-offs before seeking lower US tariffs: Gan Kim Yong

Singapore’s Minister for Trade and Industry Gan Kim Yong announced that the government will evaluate broader trade-offs before pursuing negotiations to lower new United States tariffs. The decision follows Washington’s implementation of a 12.5 per cent tariff on certain goods.

Approximately one-third of Singapore’s domestic exports to the United States are impacted by this policy shift. These affected exports represent an annual value of S$9.5 billion, prompting a strategic review by Singaporean officials to determine the best path forward in bilateral trade relations.