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Trump tariffs: Singapore economy could be hit hard by trade slowdown but there may be a silver lining, say analysts

  • On April 2, 2025, US President Trump announced a 10% tariff on imports, impacting Singapore.
  • Trump's announcement followed existing global uncertainties and a softening of economic growth in early 2025.
  • Singapore faces a 10% tariff, but other Southeast Asian nations face tariffs between 18% and 49%.
  • James Ooi from Tiger Brokers stated Singapore equities might outperform due to smaller tariffs.
  • Singapore's resilience depends on adapting to shifting trade flows, but the net economic impact remains uncertain.
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South China Morning PostSouth China Morning Post
Center

Ahead of Trump’s tariffs, most MNCs in Singapore worry about slowdown: survey

The survey by AmChamSG, conducted before Trump’s 10 per cent universal tariff move, reveals fears over rising costs and supply disruptions.

·Hong Kong
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Channel News AsiaChannel News Asia
Center

Trump tariffs: Singapore economy could be hit hard by trade slowdown but there may be a silver lining, say analysts

Singapore faces a 10 per cent tariff from the US – the lowest in Southeast Asia – but there remains broader trade risks.

·Singapore
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RapplerRappler
Lean Left

Trump tariffs may be favorable to PH agri exporters – DA chief

Philippines and Singapore get relatively lower tariffs compared to other Asian nations, following US President Donald Trump's sweeping imposition of 10% baseline tariff on all countries

·Philippines
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The Straits TimesThe Straits Times
Lean Right

S’pore spared from worst-case scenario on Trump tariffs, but may be hit by global trade slowdown

There is still a threat of a 25% tariff on US imports of semiconductors and pharmaceuticals. Read more at straitstimes.com.

·Singapore
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connectedtoindia.comconnectedtoindia.com

Singapore could face economic vulnerability amid US-led global trade slowdown, analysts warn - Connected to India News I Singapore l UAE l UK l USA l NRI

Singapore’s small and open economy could be hit hard by a US-led global trade slowdown, analysts warned, even if the country may gain a relative advantage due to significantly higher tariffs being imposed on its regional peers. US President Donald Trump announced a sweeping tariff on all imports on April 2. Here he is speaking at an event at the White House. Photo courtesy: /WhiteHouse Analysts shared their views after US President Donald Trump …

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regionalmedianews.comregionalmedianews.com

Singapore disappointed with 10% tariffs, will seek negotiation with the US: trade minister - Regional Media News

SINGAPORE (Reuters) -Singapore’s trade minister said the wealthy financial hub was disappointed that the U.S. had imposed a 10% tariff on its exports despite it having a free-trade agreement and running a trade deficit with the United States. Singapore could take countermeasures under the free-trade agreement in force since 2004, but has chosen not to do so, Trade Minister Gan Kim Yong told a press conference on Thursday.  “Retaliatory import du…

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The Straits Times broke the news in Singapore on Thursday, April 3, 2025.
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