Singapore said it will engage U.S. counterparts to seek clarity on the implementation of a potential new 15 per cent global tariff announced by U.S. President Donald Trump, as trade uncertainty looms over the global economy. Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong said clarity is crucial to navigating the evolving trade landscape.
Singapore and 15 % tariff on imports
The tariff — which could take effect immediately — was elevated from 10 per cent to 15 per cent after a Supreme Court decision raised questions over presidential trade powers. Singapore officials warned that such sweeping tariffs may present challenges for a trading hub reliant on open markets, and are monitoring potential effects on its economy.
Singapore will also request details on possible tariff refunds and continues to work on long-term economic strategies to deepen competitiveness and resilience amid changing trade conditions.
