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FinanceSingapore Minister: US tariffs impact S$9.5 billion of domestic exports
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Singapore's Minister for Trade and Industry Gan Kim Yong announced that US tariffs impact S$9.5 billion of Singapore's domestic exports. He stated that none of the 60 trading partners are fully exempt from these tariffs. Any attempt by Singapore to secure a lower tariff rate would involve broader compliance and trade implications. The tariffs represent a significant challenge for Singapore's export-oriented economy, affecting a substantial portion of its domestic exports to the United States. The minister's comments highlight the complex trade dynamics and the need for careful negotiation to mitigate economic impacts.
Source report
He says none of 60 trading partners fully exempt; any move to secure a lower tariff rate would carry wider compliance, trade implications
Published: Wed, Aug 5, 2026 · 08:21 PM By: Low Youjin
Singapore’s Minister for Trade and Industry, Gan Kim Yong, has stated that US tariffs are affecting S$9.5 billion of Singapore’s domestic exports.
Speaking on the matter, Mr. Gan noted that none of the 60 trading partners involved have been granted full exemption from the tariffs. He added that any effort by Singapore to secure a lower tariff rate would come with broader compliance and trade implications.
This article was originally published by The Business Times.
Source
The Business TimesRegional
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