Trump tariffs: A third of Singapore's exports subject to new 12.5% levy
About a third of Singapore's domestic exports will face a new 12.5 per cent US tariff from Jul 24, in a fresh blow to the country's trade-reliant economy. This comes after the US concluded that the country does not have sufficient measures to block imports produced wholly or in part with forced labour. The Trade and Industry Ministry says it will continue to engage with the US Trade office to explore options. MTI says Singapore does not condone forced labour and has a strong record against such practices. CNA speaks to Alex Capri Senior Lecturer at the NUS School of Business. He is also a former trade specialist at the US Treasury Department.
About a third of Singapore's domestic exports will face a new 12.5 per cent US tariff from Jul 24, in a fresh blow to the country's trade-reliant economy. This comes after the US concluded that the country does not have sufficient measures to block imports produced wholly or in part with forced labour. The Trade and Industry Ministry says it will continue to engage with the US Trade office to explore options. MTI says Singapore does not condone forced labour and has a strong record against such practices. CNA speaks to Alex Capri Senior Lecturer at the NUS School of Business. He is also a former trade specialist at the US Treasury Department.
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