Singapore to weigh wider trade-offs before seeking lower US tariff: Gan Kim Yong
Singapore is adopting a cautious stance regarding negotiations for lower US tariffs, citing the need to evaluate broader economic trade-offs. Deputy Prime Minister Gan Kim Yong emphasized that the government must consider the compliance costs and supply chain implications of any potential concessions.
Why it matters
Reflects the economic challenges faced by trade-dependent nations navigating shifting global tariff policies.
Around one-third of Singapore's domestic exports to the United States, valued at S$9.5 billion annually, are affected under the new 12.5 per cent tariff imposed by Washington.
Deputy Prime Minister Gan Kim Yong (pictured) said that the government's immediate priority is to help businesses and workers adjust to the new tariff imposed by the United States. (Image: YouTube/CNA)
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