S'pore businesses hit by higher 12.5% US tariffs
Singaporean businesses are facing significant financial strain due to a new 12.5% US tariff imposed following an investigation into forced labor concerns. Local entrepreneurs report that these trade barriers have drastically reduced their export volumes to the US market.
Why it matters
The situation highlights the real-world impact of US trade protectionism and geopolitical supply chain scrutiny on smaller, export-dependent economies.
T.K. Khor (left), owner of Outsource Asia Industries, with his business partners. He said the Trump administration’s tariff salvo has already cost him a chunk of business as some clients refused to take on the higher costs.
Listen Summarise US tariff of 12.5% on Singapore exports, linked to forced labour concerns, have hit businesses that serve the US market. Singapore has rejected suggestions that it engages in unfair trade practices, including the use of forced labour in supply chains. Businesses and industry groups are assessing impacts of the Section 301 tariff. AI generated
SINGAPORE – Local entrepreneur T.K. Khor has for decades been in the business of connecting US customers to original equipment manufacturers fabricating everything from metal parts to precision machines in markets such as China.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in