Trump tariffs: Singapore will continue to be subject to a 10% rate, says MTI
Singapore's Trade and Industry Ministry has confirmed that the country's exports to the US will continue to be subject to a 10 per cent tariff. This update comes after Deputy Prime Minister Gan Kim Yong said earlier this week that the United States was not keen to discuss reducing Singapore's tariffs. MTI says it is closely monitoring developments and will seek clarification from their US counterparts as necessary. Associate Professor Goh Puay Guan from the Department of Analytics and Operations at the NUS Business School and Ang Yuit, President of the Association of Small and Medium Enterprises, comment if the baseline tariff rate of 10 per cent for Singapore is as good as it gets. They talk about if SMEs see this 10 per cent rate as manageable, or are margins already feeling the squeeze.
Singapore's Trade and Industry Ministry has confirmed that the country's exports to the US will continue to be subject to a 10 per cent tariff. This update comes after Deputy Prime Minister Gan Kim Yong said earlier this week that the United States was not keen to discuss reducing Singapore's tariffs. MTI says it is closely monitoring developments and will seek clarification from their US counterparts as necessary. Associate Professor Goh Puay Guan from the Department of Analytics and Operations at the NUS Business School and Ang Yuit, President of the Association of Small and Medium Enterprises, comment if the baseline tariff rate of 10 per cent for Singapore is as good as it gets. They talk about if SMEs see this 10 per cent rate as manageable, or are margins already feeling the squeeze.
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